Shares of several companies in the auto & auto components space, including Ford Motor Company (NYSE:F), are trading lower as stocks continue to sell off following last week's Fed rate hike decision. A gain in treasury yields has weighed on stocks in growth sectors, pressuring technology and electric vehicle manufacturers that saw strength in 2021.
Ford's also making headlines Monday as the reportedly plans to sell 8 million of the 102 million shares it currently owns for around $27 per share... Read More
The Federal Reserve last Wednesday raised its target fed funds rate by 0.5% on Wednesday to a new range of between 0.75% and 1.0%, its first rate hike of at least half a percentage point in more than 20 years.
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Ford manufactures automobiles under its Ford and Lincoln brands.
According to data from Benzinga Pro, Ford has a 52-week high of $25.87 and a 52-week low of $11.28.
