Detroit's Big 3 automakers, Ford Motor Company (NYSE: F), General Motors (NYSE: GM) and Fiat Chrysler Automobiles (NYSE: FCAU), have agreed to close all of their U.S. factories due to worker fears about the coronavirus, according to the Associated Press.
The companies had already formed a task force, along with the United Auto Workers union, to develop COVID-19 safety protocols for employees of the automakers. So far, Fiat-Chrysler and Ford have confirmed they were suspending production at Detroit-area plants after workers tested positive for the COVID-19 virus.
The automakers are expected to release further details of the closure later today.
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Ford shares were trading down 14.37% at $4.29 at the time of publication. The stock has a 52-week high of $10.56 and a 52-week low of $4.29.
General Motors shares were trading down 20.52% at $16.15 at the time of publication. The stock has a 52-week high of $41.90 and a 52-week low of $15.30.
Fiat Chrysler shares were trading down 13.67% at $6.57 at the time of publication. The stock has a 52-week high of $16.69 and a 52-week low of $6.50.
Photo credit: Dwight Burdette