Why Ford Motor Stock Sank Today
The stock market's been in a funk all week long and, with the S&P 500 down another 0.3% so far today, Thursday doesn't look any different.
Investors are by and large reacting to lousy economic news, such as the U.S. Bureau of Economic Analysis saying yesterday that the economy shrank 1.6% last quarter, instead of the 1.5% it previously thought. Adding to investor worries, the Commerce Department just reported that "core" U.S. inflation is high at 4.7% (and that's before adding inflation from higher food and energy costs). And to round out the trifecta of bad news headlines -- consumer disposable income is falling.
None of this is great news for truck maker Ford Motor Company (NYSE: F), which needs a healthy economy to support consumers buying more of its trucks -- and there's even more bad news today, "helping" to drive Ford shares down 2.1% (as of 1:05 p.m. ET).
Source Fool.com
