"These businesses all have significant standalone potential, and an enhanced focus will enable them to better direct their resources toward their distinct strategic priorities," said CEO Steve Cahillane.

GE CEO Larry Culp said the group is seeing "plenty of demand", but noted that product delivery remains a challenge amid supply chain disruptions.

Stocks finished lower Wednesday as investors enter June in much the same way they exited May: worried about inflation and eyeing central bank reactions.

Stocks finished higher Friday, snapping a six-day losing streak for the Dow.

Tesla will publish Q2 deliveries over the coming days following the biggest three-month decline on record for shares of the world's most-valuable carmaker.

"Given the environment and market volatility, the Board determined that it simply was not prudent to continue pursuing a deal," said chairman Peter Boneparth.

GM said chip shortages and supply chain snarls left nearly 100,000 vehicles unfinished over the second quarter.