Why Ford Motor Company Stock Is Down Today
Shares of Ford Motor Company (NYSE: F) were trading lower at midday on Monday, amid a broad-based sell-off driven by investor concerns about the deeply indebted Chinese property developer China Evergrande Group (OTC: EGRNF).
As of noon EDT, Ford's share price was down about 5.6% from Friday's close.
Investors are concerned about Evergrande: The giant property developer has huge debt that it probably can't service, bankruptcy appears likely, and the Chinese government has hinted that no bailout will be forthcoming. That's not good for holders of Evergrande's stock or bonds, of course -- but the real concern is that its failure could have systemic effects.
Source Fool.com
