Why Shares of the Detroit Automakers Are Getting Hammered Today
Shares of the three Detroit automakers were all sharply lower on Monday morning, as investors scrambled to come to terms with the likelihood of extended factory shutdowns in North America and Europe.
As of 10:30 a.m. EDT today, shares of General Motors (NYSE: GM) were down about 12.8%, the stock of Ford (NYSE: F) was down about 8.7%, and shares of Fiat Chrysler Automobiles (NYSE: FCAU) were down about 22% from Friday's closing prices.
Fiat Chrysler's factory in Mirafiori, Italy, is one of eight European plants that are now shut down due to the coronavirus. Image source: Fiat Chrysler Automobiles.
Source Fool.com
