U.S. stocks fell on Thursday after Standard & Poor's cut the debt ratings of General Motors Corp. (GM.N: Quote, Profile, Research) and Ford Motor Co. (F.N: Quote, Profile, Research) to junk status, dealing a blow to major automakers and companies that supply them.
S&P cited brutal global competition and flagging sales of the automakers' most profitable vehicles, sending General Motors down 5.7 percent to $30.92 and Ford down 5.7 percent to $9.58.
They forgot to mention it would help if they sold vehicles that people actually WANTED!
Old Confucius saying…
'Make and sell junk, stock become junk'