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00:02General Motors shares fell Monday as rising Treasury yields and crude oil prices pressured
00:07the broader automotive sector, according to Benzinga.
00:09Oil prices climbed after Trump rejected Iran's proposal to reopen the Strait of Hormuz, with
00:14West Texas Intermediate crude up 4.2 percent and Brent crude up 4.0 percent.
00:19The 10-year Treasury yield rose 10 basis points to 5.27 percent, its highest level since mid-2007.
00:25Higher benchmark yields increased auto loan rates and monthly financing costs for buyers,
00:30threatening demand for GM's pickup trucks and full-size SUVs.
00:33Higher rates also increased debt servicing and corporate borrowing costs.
00:37Shares were down 2.14 percent to $80.86 Monday afternoon, according to Benzinga Pro data.
00:43For all things money, visit Benzinga.com.
