Shares of autoparts distributor LKQ (NASDAQ: LKQ) fell more than 11% on Thursday, performing worse than the S&P 500 on a miserable day for the markets. The company has exposure to many parts of the globe hit hardest by the COVID-19 coronavirus, and investors are worried the outbreak will have a lasting impact on its results.
As the novel coronavirus spreads globally, it's having a profound impact on global industrial production and supply chains. It could also cause a recession, which could eat into new and used car sales, and automotive stocks have been pummeled as a result. It's also weighing on suppliers to the sector.
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Source Fool.com