Ford stock worst S&P 500 performer a day after $1 billion supply-cost warning

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Ford Motor Co.

stock on Tuesday fell to its lowest since July 27 and used to be on tempo for its biggest one-day proportion drop in two years a day after the automobile maker stated inflation and parts shortages will leave it with more unfinished vehicles than it had anticipated and paying extra for the portions it does get, reminding Wall Street supply-chain snags are a ways from over. The stock is down for 4 of the previous six days and taking a look at losses of 35% for the yr, which compares with losses of round 19% for the S&P 500 index.

Ford stated it expects to have between 40,000 and 45,000 unfinished automobiles in stock on the finish of the 3rd quarter and that, in keeping with fresh negotiations, bills to providers will run about $1 billion upper than anticipated for the quarter, because of inflation. The corporate reaffirmed its outlook for the yr, then again. Ford stock used to be the worst performer at the S&P.

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