Boeing shares plunge after 737 jet carrying 132 people crashes in China’s Guangxi province

$Boeing (BA.US)$ A China Eastern Airlines Corp. Boeing Co. 737-800NG plane carrying 132 people has crashed in China’s southwestern province of Guangxi.

According to FlightRadar24, China Eastern flight MU5735 was traveling from Kunming to Guangzhou, and radar tracking shows the aircraft taking a steep descent.

The crash was confirmed by the Civil Aviation Administration of China, which said there were 123 passengers and nine crew members on board.

Shares of Boeing fell 6.8% to $179.97 in pre-market U.S. trading. Stock in Shanghai-based China Eastern fell as much as 6.4% in late trading in Hong Kong.