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.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.