Traders now see 43% chance that fed-funds rate target gets to 5% or higher in 2023, up from almost 31% on Thursday

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Ford stock slumps after November vehicles sales drop, as truck and SUV declines offset a doubling in EV sales

Shares of Ford Motor Co. shed 1.6% in morning trading Friday, after the automaker reported a 7.8% decline in November sales to 146,364 vehicles. Truck sales fell 1.2% to 81,210 and sport-utility vehicle (SUV) sales sank 15.0% to 61,889, while electric vehicle (EV) sales soared 102.6% to 6,255. Ford said its EV sales grew at twice the rate of overall EV sales in November, and makes Ford the second-best EV seller and maker, behind leader Tesla Inc. . The sales report comes a day after Ford said it had invested an additional 125 million pound sterling ($152.7 million) to transition its Halewood, U.K. plant to EV components. Ford’s stock has lost 33.3% year to date, while shares of rivals General Motors Co. have dropped 32.1% and Tesla have slumped 44.5%. The S&P 500 has declined 15.2% this year.

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