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Singapore, Australia, China, Indonesia ground Boeing's 737 MAX 8 as concerns mount

SilkAir's new aircraft, the Boeing 737 Max 8, sits on the tarmac at Changi Airport in Singapore. (File, Reuters)

Singapore and Australia suspended operations of all Boeing 737 MAX aircraft in and out of their airports on Tuesday, and Indonesia and China grounded their fleets of the US planemaker’ s latest model after it suffered a second fatal crash in less than five months.

The scare has wiped billions of dollars off the market value of the world’s biggest planemaker, as the Boeing Co share closed 5 percent down on Monday having fallen by as much as 13.5 percent at one point.

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