Shares of several companies in the auto & auto component space, including Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM) and Tata Motors Limited ADR (NYSE:TATA), are all trading lower amid overall market weakness as stocks fall following the Russian invasion of Ukraine, which has pressured macro sentiment.
Russia-Ukraine tensions have heated up in recent weeks, with Russia launching military operations in Ukraine early Thursday after earlier recognizing two regions of the country as independent. US President Biden on Tuesday announced sanctions targeting some Russian banks and individuals. The conflict has pressured equities across sectors but lifted oil prices and safe havens such as gold.
