The stocks of the Big Three automakers moved lower early Monday, as workers continued their strike for higher pay and other benefits. General Motors Co.’s and Ford Motor Co.’s stocks were down 0.4%, while Stellantis N.V. STLA, the former Fiat Chrysler, was down 1.2%. The strike started early Friday after the carmakers failed to reach an agreement with the UAW. On Sunday, UAW President Shawn Fain told CBS’ “Face the Nation” that Stellantis’ latest offer of a 21% pay hike is not good enough. “It’s definitely a no-go,” he said on “Face the Nation.” “We’ve made that very clear.” Fain reiterated his argument that in the last four years alone, the CEO pay at the Big Three has climbed 40%. “They’re already millionaires,” Fain said. “Our demands are just. We’re asking for our fair share in this economy and the fruits of our labor.”Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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