Shares of several stocks in the auto & auto components sector, including Tesla Inc (NASDAQ:TSLA), Lucid Group Inc (NASDAQ:LCID) and Workhorse Group Inc (NASDAQ:WKHS), 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 (NASDAQ:DIA) has fallen by 4.20% at $332.71 over the past month, the SPDR S&P 500 ETF Trust (NASDAQ:SPY) has lost 3.68% to $424.23 and the Invesco QQQ Trust Series 1 (NASDAQ:QQQ) 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.
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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.
