General Motors Stock Update: Barra highlighted moves to return cash to shareholders, including USD 12 billion in 2023 through a $10 billion share buyback and a 33% dividend increase.
The Dow Jones Industrial Average fell 344.57 points, or 1.02%, to 33,530.83; and the S&P 500 lost 65.41 points, or 1.58%, at 4,071.63, with both marking their biggest one-day percentage losses since March 22.
Ford's preliminary third-quarter results, released late on Monday, sent shares of rival General Motors Co down 5.6% as analysts said it might take more time for automakers to recover from chip shortages.