Why Ford Motor Stock Closed Down on Wednesday
Shares of Ford Motor Company (NYSE: F) closed lower on Wednesday, amid a broad market decline after Federal Reserve Chairman Jerome Powell shared significant concerns about risks to the U.S. economy in the months ahead.
Ford's shares ended the session at $4.72, down 5.2% from Tuesday's closing price.
Stocks traded lower on Wednesday following a speech by Powell, in which he said that the outlook for the U.S. economy is "highly uncertain and subject to significant downside risks." Powell said that the U.S. government may need to spend more to support the economy's recovery from the downturn that has been induced by measures to slow the spread of the COVID-19 virus.
Source Fool.com
