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

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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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