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Why Ford Shares Are Diving

Ford Motor Company (NYSE: F) shares are trading lower by 3.86% to $14.95 Tuesday morning. Shares of several companies in the auto & auto component sector are trading lower amid overall market weakness as August CPI readings showed inflation came in greater than expected.

Benzinga · 09/13/2022 11:00

Ford Motor Company (NYSE:F) shares are trading lower by 3.86% to $14.95 Tuesday morning. Shares of several companies in the auto & auto component sector are trading lower amid overall market weakness as August CPI readings showed inflation came in greater than expected. This has caused economic concerns and raised expectations for more aggressive Fed policy, which could negatively impact discretionary spending.

What Happened?

According to data from the U.S. Bureau of Labor Statistics, the headline CPI rose 8.3% in August, down from 8.5% in July. The August CPI reading came in above average economist estimates of 8%.

Core inflation, which excludes volatile food and energy prices, was up 6.3% in August, above average economist estimates for a 6.1% gain...Read More

See Also: Here's How Much You'd Have Right Now If You Invested $1,000 In Apple Shares When Steve Jobs Resigned As CEO In 2011

According to data from Benzinga Pro, Microsoft has a 52-week high of $25.87 and a 52-week low of $10.61.