Shares of several stocks in the auto & auto components sector, including Tesla Inc, Lucid Group Inc and Workhorse Group Inc, are all trading lower as stocks pull back on continued volatility amid Russian military aggression in Ukraine. The conflict has weighed on stocks and economic sentiment.
As the Russia-Ukraine conflict persists, the SPDR Dow Jones Industrial Average ETF Trust has fallen by 4.20% at $332.71 over the past month, the SPDR S&P 500 ETF Trust has lost 3.68% to $424.23 and the Invesco QQQ Trust Series 1 has fallen by 5.39% to $328.35. Stocks have also suffered losses in early 2022 as investors react to US inflation data, Fed tapering outlook and a new 2-year high in the 10-year US Treasury yield.
- Tesla is trading lower by 4.90% at $797.26.
- Lucid is trading lower by 5.45% at $22.86.
- Workhorse is trading lower by 12.86% at $3.36.
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