Tuesday, February 22, 2011

Auto Stocks Down

Auto stocks down due to two reasons 1)U.S. oil prices surged 6% Monday following violent protests in, Libya's capital, that claimed an estimated 200 lives over the weekend. While it only contributes 2% of world oil production, the spike in oil prices Monday reflects concerns that the crisis in Libya could spread to other major oil exporting nations.
2)There are rumors that,an additional tax may be announced for Diesel vehicles in the Budget

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