DETROIT Automotive stocks sank yesterday as investor fears about credit availability and the weakening global economy combined to produce a sell-off of Ford Motor Co., General Motors Corp., and dozens of other auto-related stocks.
Ford shares lost 26 cents, or 8.9 percent, to close at $2.66 after trading as low as $2.15 during the session. GM shares fell 65 cents, or 8.6 percent, to $6.91. Just four years ago, Ford shares traded in the midteens and GM shares were above $40.
The shares of several auto suppliers also fell. Detroit-based American Axle & Manufacturing dropped 21 cents, or 5.2 percent, to $3.81, and Toledo-based Dana Holding Corp. fell 23 cents, or 6.46 percent, to $3.33.