A quick glance at the headlines doesn’t seem to offer much solace for investors of automotive giant General Motors (GM). The car industry along with a host of other sectors affected by tariff threats from President Donald Trump suffered badly during Monday’s session. GM stock in particular incurred a loss of more than 3%.
According to the Associated Press, the “automotive sector faces a bumpy road ahead. The industry’s production processes are heavily intertwined throughout the nations impacted by tariffs,” which are Mexico, Canada and China. Further, the economic action is also imposing a headwind on auto parts companies, including tire company Goodyear (GT), which slipped almost 2% on Monday.
