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Ford, GM & Fiat Chrysler Drive Wall Street Lower on Weak Sales

3/03/15 11:48 AM EST
Investors are taking a breather one day after a record run on Wall Street. The Nasdaq is slipping from the 5,000 mark. The Dow is down almost 100 points, and the S&P is falling by 12 points. Auto sales are driving the markets lower. Harsh winter weather slowed sales in February. Automakers all missed analyst forecasts, including General Motors (GM). Ford (F) sales dropped 2%. Shares of Fiat Chrysler (FCAU) are getting slammed the hardest. Despite reporting sales increased by 6%, it still missed expectations. Designer Kate Spade (KATE) is falling after reporting disappointing Q4 results. Caesars Entertainment (CZR) is up about 1% on what looks to be short covering. The casino operator posted a massive loss of $7.00 a share, losing nearly $1 billion in the fourth quarter.
Stocks in this video: ^DJI^IXIC^GSPCGMFFCAUKATECZR
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