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Trump orders grounding of Boeing 737 MAX jets

President Donald Trump announced an emergency order grounding all flights of Boeing Co. 737 MAX 8 and 737 MAX 9 aircraft in the U.S., effective immediately, days after a fatal crash of a 737 MAX 8 passenger plane in Ethiopia.

Trump said pilots and airlines have been notified of the order, which will remain in place until further notice.

Boeing recommended that the U.S. Federal Aviation Administration temporarily ground operations of the entire global fleet — 371 aircraft — of the 737 MAX model, the company said in a statement.

The latest order reverses the FAA's previous decisions deeming Boeing 737 MAX jets safe to fly despite a growing list of countries suspending operations of the aircraft.

Ahead of Trump's announcement, Canadian Minister of Transport Marc Garneau said Canada was temporarily prohibiting Boeing 737 MAX 8 and 9 aircraft from entering the country's airspace.

On March 10, a Boeing 737 MAX 8 passenger plane operated by Ethiopian Airlines crashed shortly after takeoff, killing all 157 people on board.

Trump said he hopes Boeing "will very quickly come up with the answer" to the plane issue, "but until they do, the planes are grounded."

Boeing shares, which closed at $375.41 on March 12, traded as low as $363.33 on March 13 after the announcement before closing 0.46% ahead at $377.14.