The Dow Jones Industrial Average was down 96.22 points, or 0.38 percent, to 25,554.66 on Tuesday.
The Dow was down 140 points, or 0.55% as of 9:45 AM ET (14:45 GMT).
The Labor Department said its Consumer Price Index (CPI) rose 0.2 percent, in line with estimates, implying benign underlying inflation last month and supports the Federal Reserve's "patient" approach for further interest rate hikes this year.
The price of US crude oil rose 8 cents to $56.87 a barrel, while Brent crude rose 9 cents to $66.67 a barrel.
Stocks are moving steadily higher in midday trading on Wall Street, putting the market on track for its third gain in a row.
The world's largest planemaker, which is the best performing Dow component this year by a wide margin, fell as much as 13.4 percent on Monday and dragged down the Dow Jones index.
Google's parent company Alphabet rose 2.2 percent and Botox maker Allergan rose 2.1 percent.
The share price drops helped push down the S&P/TSX industrials index by 0.76 per cent to be second only to the consumer discretionary index for losses on the day.
Other marquee names also rose - Microsoft Corp, Facebook Inc and Amazon.com Inc gained between 1.2 and 2.3 percent. Additionally, sales in January increased 2.3 percent from a year ago.
Most sectors, however, saw modest gains to lead the S&P/TSX composite index to close up 30.42 points at 16,136.66.
Google's parent company Alphabet added 1.8 percent in the first few minutes of trading Tuesday. Apple and UnitedHealth each rose 1.1 percent.
Airlines in China, Indonesia, and Ethiopia grounded all Boeing 737 MAX 8 airplanes after that model crashed on Sunday on its way to Nairobi.
Google's parent company Alphabet rose 2.2 per cent and Botox maker Allergan rose 2.1 per cent.
Shares in Southwest Airlines sank 2.12 percent while American Airlines lost 0.2 percent, United Continental gave up 0.8 percent. The Nasdaq rose 36 points, or 0.5 per cent, to 7,626.
The 2-yr yield declined three basis points to 2.44%, and the 10-yr yield declined four basis points to 2.61%.
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A USC statement says officials will also conduct a case-by-case review of current students and graduates tied to the allegations. Giannulli was released on $1 million bail after his court appearance on Tuesday.