Boeing stock drops after halting 737 MAX test flights

May 11 (UPI) -- Boeing stocks dropped after announcing it was temporarily suspending test flights of its 737 MAX narrow-body jetliners due to possible engine problems.

Boeing on Wednesday said production of the jets would continue despite the halt in flights and that it was maintaining its plan to begin the first deliveries for the 737 MAX later this month. Boeing designed the MAX fleet to replace the previous 737 model as a more fuel-efficient model.

Boeing stock on Wednesday dropped 2.31 points -- 1.25 percent -- to close down at $183.18 per share. The company's stock opened at $185.48 per share and saw a high on Wednesday of $185.65 per share, New York Stock Exchange data shows.

Boeing said supplier CFM International notified the company last week of a potential issue related to turbine engine discs.

"Out of an abundance of caution, we decided to temporarily suspend MAX flights," Boeing told BBC News. "The step is consistent with our priority focus on safety for all who use and fly our products."