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Midday Movers: Rivian Automotive, PPG Industries, Wynn Resorts and More

By Liz Moyer

Investing.com -- Stocks fell on Monday as investors awaited the Federal Reserve's meeting minutes and the consumer price index report later this week. Here are the market movers for Oct.10:

  • Rivian Automotive Inc (NASDAQ:RIVN) shares fell 9.8% after the electric vehicle maker announced a recall of nearly all its vehicles, citing a problem in the steering wheel.

  • PPG Industries Inc (NYSE:PPG) shares fell 3.6% after the maker of paints, coatings and other materials warned it would fall short of guidance on third quarter earnings because of weaker demand.

  • Wynn Resorts Limited (NASDAQ:WYNN) shares fell 11% as the casino sector feels pressure from new lockdowns in China because of Covid-19 potentially affecting activity in gaming capital Macau. Shares of Las Vegas Sands Corp (NYSE:LVS) also fell 8%, and MGM Resorts International (NYSE:MGM) shares fell 4.6%.

  • Ford Motor Company (NYSE:F) shares fell 7% after catching a downgrade from UBS, which said a possible recession could hurt results for the automaker. 

  • NVIDIA Corporation (NASDAQ:NVDA) shares fell 4.5% after U.S. restrictions on chip exports to China. Applied Materials Inc (NASDAQ:AMAT) shares fell nearly 5%.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.