Why General Motors Stock Fell Today
Car stocks are taking it on the chin today, and General Motors (NYSE: GM) is no exception. The company's stock is reeling as auto investors worry that sky-high inflation and the Federal Reserve's aggressive interest rate hikes could put too much pressure on the U.S. economy.
The automotive stock was down by 7.6% as of 2:34 p.m. ET.
Auto stocks were falling with the broader market today as investors grew increasingly concerned about stubbornly high inflation, despite moves by the Federal Reserve to bring it down.
Source Fool.com