Why Shares of Fiat Chrysler Automobiles Are Falling Today
Shares of Fiat Chrysler Automobiles (NYSE: FCAU) were down sharply on Monday, as a sharp drop in oil prices and rising fears of a coronavirus pandemic drove a broad-based market sell-off.
As of 3 p.m. EDT, FCA's shares were down about 10.8% from Friday's closing price.
It may seem counterintuitive that an automaker's share price would fall with oil prices, particularly an automaker like FCA that generates much of its profit from gas-burning SUVs and pickup trucks.
Source Fool.com