General Motors, Ferrari and Goodyear Tire are part of a big slump in auto stocks

Investor concerns over the impact of the Ukraine-Russia war on commodity prices was one of the big factors in a broad decline in legacy auto stocks on Monday. The conflict is also seen raising the prospect of an economic tailwind that could cut short the expected back half recovery in automobile sales growth.

Ferrari (RACE -8.1%), Stellantis (STLA -7.7%), Toyota (TM -5.8%), BMW (OTCPK:BMWYY -4.9%), Honda Motor (HMC -4.6%), Tata Motors (TTM -5.4%) and General Motors (GM -5.0%) were some of the notable auto names in reverse.

The drop in some of the legacy auto names coincides with gains in EV startup stocks, which are seen benefiting if the electrification push is accelerated.

Auto supplier stocks also fell sharply on some of the same supply chain, macroeconomic and commodity concerns. Decliners included Cooper-Standard (CPS -12.9%), Adient (ADNT -9.2%), Horizon Global (HZN -7.3%), Westport Fuel Systems (WPRT -9.7%), Lear Corporation (LEA -8.6%), Dana (DAN -8.8%), Goodyear Tire & Rubber (GT -8.9%) and Aptiv (APTV -5.6%).

Broad market update: Nasdaq, S&P 500, Dow Jones fall further, energy stocks turn negative.