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Boeing halts production of the 737 Max

Boeing’s announcement that it would suspend production in January of its most popular plane, the 737 Max, is the culmination of the worst crisis in the company’s 103 years, the NYT’s David Gelles and Natalie Kitroeff report.

The plane has been grounded since two crashes killed nearly 350 people within five months, and its return to service remains uncertain. Rather than continue making new jets, Boeing will focus on delivering the 400 Max planes it has waiting for clients.

The company’s reputation and stock price have been battered, with shares falling 25 percent since March. Boeing has announced more than $8 billion in charges related to the crisis, and more are expected.

The production halt will affect hundreds of suppliers around the U.S. and is expected to be felt across the economy, because Boeing is the country’s largest manufacturing exporter.