Ahead of wider tariff implementation, key auto stocks hit 52-week lows

Tonight at midnight Eastern time, the United States will begin collecting new and increased tariffs on 84 nations. The market today rebounded earlier — a “dead cat bounce” — but as the realization that tariffs were setting in, all the major indexes finished down on the day. Several key automotive stocks also hit 52-week lows. Ford Motor Company (F) closed at $8.69 a share, which was down 55 cents on the day and represents a 5.95% drop in value. Its 52-week high, set on July 18, 2024, was $14.62. For the year, Ford is down 12.22%. Stellantis NV (STLA) closed at $8.53 a share, which was down 73 cents on the day and represents a 7.88% drop in value. Its 52-week high, set on April 9, 2024, was $27.56. For the year, Stellantis is down 34.64%. Magna International (MGA), a key automotive supplier, closed at $30.82 a share, which was down 75 cents on the day and represents a 2.38% drop in value. Its 52-week high, set on April 8, 2024, was $53.26. For the year, Magna is down 44.38%. Overall, the Dow Jones Industrial Average (DJIA) was down 320.01 points, or 0.84%. The S&P 500 was down 79.48 points, or 1.57%. The NASDAQ closed down 335.35 points, or 2.15%. With no end to the trade war in sight, and larger tariffs going into effect between now and when the markets open next, we’re likely in for a wild ride.