Ford, GM Fall on Volkswagen Drama; Commodities Hit Stocks

Ford (F) and GM (GM) were sharply lower Tuesday, dragged on by another day's selloff in Volkswagen (VLKAY) shares. The German automaker disclosed that 11 million cars worldwide had been affected by software that gamed emissions test. That was far higher than the half million U.S. vehicles originally reported. Stocks recovered from the worst of session lows by the end of the session, though remained deep in the red after fears over China's economy sent commodity markets tumbling. The Dow was down just over 250 points at its low. Materials stocks were hit the hardest on worries over the world's second largest economy. Rio Tinto (RIO), BHP Billiton (BHP) and Dow Chemical (DOW) were among the worst performers.