Boeing Co.’s stock was tumbling $12.36, or 11%, to a 2 1/2-year low in morning trade Thursday, after Bloomberg reported that the aerospace giant was being investigated by the Securities and Exchange Commission regarding accounting for its 787 Dreamliner and 747 jumbo jetliners. The selloff puts the stock on track to suffer the biggest one-day price drop since the company went public in January 1972. The stock’s previous biggest price drop was $11.43 (8.9%) on Jan. 27, 2016 after Boeing reported fourth-quarter results. The stock’s price drop was shaving off about 85 points from the Dow Jones Industrial Average , which is a price-weighted index. Bloomberg reported earlier Thursday, citing people with knowledge of the matter, that the SEC is probing whether Boeing properly accounted for the costs and expected sales, and its projections on the long-term profitability, of its two jetliners. Boeing’s stock has plunged 28% year to date, while the Dow has lost 11%.
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