Blue Origin New Glenn Grounded

The mission was carrying a communications satellite for AST SpaceMobile, which is now considered lost due to the deployment error.

This incident represents a significant setback for Jeff Bezos' aerospace firm as it attempts to compete with SpaceX in the commercial launch market.

The FAA has ordered a full investigation into the second-stage flight sequence failure before the rocket can fly again.

Shares of AST SpaceMobile plunged in early trading as investors reacted to the loss of the critical hardware.