Just as the auto industry was recovering from prolonged chip shortage woes, last year brought new headwinds - including a Chinese slowdown, persistently high inflation, union strikes, and high interest rates. Now, with last week's uninspiring U.S. economic data reviving concerns over a potential hard landing and recession, cyclicals are once again in the hot seat.
That includes GM, which recently sold off by 6.4% on July 23 after the automaker's latest quarterly earnings report landed on Wall Street with a thud.
