US EditionGM, Ford, Tesla And Other Auto Stocks Slide In Thursday Pre-Market: What's Going On? - Ford Motor (NYSE:F), General Motors (NYSE:GM)
- On Wednesday, stocks skidded in afternoon trading as investors awaited President Trump's planned announcement at 4 p.m. EDT regarding industry-specific tariffs, particularly targeting U.S. Auto imports.
- Anticipation of these tariffs, especially on auto imports from Mexico and Canada scheduled for April 2, rattled investors due to President Trump's protectionist trade policies and the potential for increased vehicle costs.
- The S&P 500 dropped 1.1% to close at 5,712, a 64-point decrease, while the Dow Jones Industrial Average fell 0.3% and the Nasdaq Composite nosed down 2%, reflecting a broad market decline.
- Shares of automakers declined, with General Motors sinking 3.2%, Stellantis dropping 3.5%, and Tesla shares falling nearly 6% due to disappointing sales and consumer unhappiness, while Adam Crisafulli of Vital Knowledge warned of a multi-quarter period of economic disruption with softer growth and higher inflation due to tariffs.
- Analysts estimate that a 25% tariff could add between $4,000 and $10,000 per car to vehicles assembled in North America, potentially affecting almost all original equipment manufacturers and leading to deferred investment, cost-cutting, and possible layoffs as consumers become increasingly wary of major purchases.
46 Articles
46 Articles
Tesla’s $14 Billion Rally Eclipses a Bloodbath in Auto Stocks
As shares of Elon Musk’s Tesla Inc. rally on Thursday, the jump in the size of the company dwarfed the decline in the value of its US rivals as the stocks responded to President Donald Trump’s latest tariff announcements.
GM, Ford, Tesla And Other Auto Stocks Slide In Thursday Pre-Market: What's Going On? - Ford Motor (NYSE:F), General Motors (NYSE:GM)
The stocks of automakers, General Motors Co. (NYSE:GM), Ford Inc. (NYSE:F), Stellantis NV (NYSE:STLA) and Tesla Inc. (NASDAQ:TSLA) declined 5.79%, 3.69%, 2.58%, and 1.59%, respectively during the pre-market trading session on Thursday. What Happened: On Wednesday, a 25% tariff was imposed by President Donald Trump on foreign-made automobiles, citing that automotive imports still pose a threat to the country’s industrial base and national securit…
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