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Why Auto Stocks Ford, Lucid, and GM Are Falling Today

TheMotleyFool

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Why Auto Stocks Ford, Lucid, and GM Are Falling Today: https://g.foolcdn.com/editorial/images/702948/gettyimages-1373210791.jpg

Shares of automotive stocks were tumbling today as the broader market fell on concerns of near-record inflation and a stronger-than-expected labor market.

Investors are concerned that persistent inflation and a strong labor market will encourage the Federal Reserve to continue hiking interest rates, which could end up slowing the economy down too much.

As a result, Ford (NYSE: F) fell 5.4%, Lucid Group (NASDAQ: LCID) slid 6.3%, and General Motors (NYSE: GM) tumbled 5.7% as of 11:43 a.m. ET.

Source Fool.com

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