Markets Insider reports aircraft manufacturer Boeing plummeted 12% on Thursday.<br />Its share price descended after Spirit Aerosystems said it was directed by Boeing to pause the production of parts used in the troubled 737 MAX plane.<br />Spirit's announcement put the brakes on investor enthusiasm for the return of the 737 MAX plane, which is on track for key test flights later this month.<br />Spirit says it plans to cut production of shipsets for the 737 MAX by at least 16%, and that more layoffs are expected.<br />The company intends to reduce its hourly workforce at its site in Wichita, Kansas, due to the drop in production.
