Yahoo Financeยท2025-10-08 00:39Core Points - The S&P 500 index ended its 7-day winning streak, declining 0.38% to 6,714.59, influenced by negative news from major U.S. automakers [1] - Ford, Tesla, and General Motors experienced significant stock declines due to various challenges, including tariffs, high interest rates, and weak consumer spending [2] Ford - A fire at a Novelis aluminum plant in New York may lead to a shortage of sheet aluminum for domestic automakers, particularly affecting Ford, which relies on it for its F-150 pickup [3] - Ford's stock fell over 6.1% in response to the news, and the issue may be addressed in an upcoming shareholder call [3] Tesla - Tesla announced cheaper, scaled-back versions of its Model 3 and Model Y sedans instead of a new low-cost vehicle, resulting in a stock decline of 4.45% [4] - The new models are priced at $39,990 for the Model Y and $36,990 for the Model 3, but they feature less range and fewer features compared to premium options [5] - The company faces challenges as consumer reluctance to make large purchases persists, impacting the electric vehicle market [6][7] General Motors and Stellantis - General Motors and Stellantis received a request from the government to return $1.1 billion in funding, adding to the negative sentiment in the automotive sector [8]