U.S. President Donald Trump announced that China agreed to an initial order of 200 Boeing jets following a summit in Beijing. The agreement includes GE Aerospace engines. This marks the planemaker's first major deal in the Chinese market in nearly a decade.
Boeing shares fell nearly 4% as the order size disappointed investors. Wall Street anticipated a deal for as many as 500 aircraft based on industry sources.
President Trump stated the agreement could expand to 750 planes if the initial order proceeds smoothly. The market focused on the confirmed 200-plane figure due to a lack of specific aircraft models or delivery timelines.