(CNBC) Shares of General Motors and Ford Motor each tumbled Monday after a pair of UBS downgrades citing expectations for weakening demand amid inflationary pressures. Ford’s stock was down by more than 8% during intraday trading before closing at $11.37 per share, a decline of 6.9%. GM was off by as much as 7.5% before closing at $32.29 per share, down by 4%.
GM and Ford shares fall after UBS downgrades on expectations for weakening demand
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