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Stocks down as automakers, Boeing lead China's hit list in trade spat

Shares in U.S. exporters of everything from planes to tractors fell on Wednesday after China retaliated against the Trump administration's tariff plans by proposing duties on key U.S. imports including soybeans, beef and chemicals. U.S. automakers' products are prominent on China's list of tariff targets, yet shares of automakers ended higher on Wednesday as Wall Street stocks changed course in the afternoon when investors' trade fears subsided. Tesla shares closed 7.3 percent higher at $286.94, Ford shares gained 1.6 percent to close at $11.33, and GM shares were up 3 percent at $38.03. Aircraft maker Boeing closed down 1 percent, weighing the most on the Dow Jones Industrial Average as documents from China's Ministry of Commerce and the U.S. manufacturer showed the move would affect some older Boeing narrowbody models. It was not immediately clear how much the tariffs would impact its newer aircraft. Boeing said it was assessing the situation while analysts from JP Morgan said the proposals from China looked to have been calibrated carefully to avoid a major impact on the planemaker. Fellow Dow component 3M lost as much as 2.4 percent. And farming equipment maker Deere lost nearly $10 per share at its lowest. The company urged the two countries to work toward a resolution to "limit uncertainty for farmers and avoid meaningful disruptions to agricultural trade." The speed with which the trade spat between Washington and Beijing is ratcheting up — the Chinese government took less than 11 hours to respond with its own measures — led to a sharp selloff in global stock markets and commodities. China was hitting back against U.S. President Donald Trump's plans to impose tariffs on $50 billion in Chinese goods with similar tariffs on U.S. goods even as Trump said the country is "not in a trade war with China." "Everybody knew they were going to retaliate. The question was how strong of a retaliation. Today's move clearly shows that they mean business," said Adam Sarhan, chief executive of 50 Park Investments in New York. China levied 25 percent additional tariffs on U.S. goods, but unlike Washington's list that covers many obscure industrial items, Beijing's covers 106 key U.S. imports including soybeans, planes, cars, whiskey and chemicals. Trump denied that the tit-for-tat moves amounted to a trade war between the world's two economic superpowers.

Ford Mustang pinball machine has supple wrist, plays by sense of smell [w/video]

Ford didn't have anything major to show off at the 2014 Chicago Auto Show, so it seems it instead opted to have some fun - it brought a row of pinball machines to the show. Yes, pinball machines.
We originally told you about the Stern Pinball Ford Mustang machine a few days ago, and as day two of the Chicago show is a bit of a slow one, we opted to head to the show floor and get some snaps of the bank of new machines. Not surprisingly, there's plenty for the Mustang fan in each of these machines, ranging frond different models, to logos to a full model.
Take a look below for our full gallery of live shots, available up top. Then head below for our original gallery of stock images, along with a video and press release on the new machines.

2015 Ford Mustang invades SEMA, led by King Cobra

Ford showcased more than a dozen customized 2015 Mustangs at its sprawling 20,000-square foot display this week at the Las Vegas Convention Center as the iconic pony car's 50th anniversary celebration continued at the SEMA Show.
While Mustangs are always a hot commodity at SEMA, the new generation brought increased attention from the aftermarket, as builders like Galpin Auto Sports, Richard Petty's Garage and Vaughn Gittin Jr. offered their takes on the new 'Stang.
The extensive display included a range of Mustangs from mild to wild, with everything from a 600-plus horsepower King Cobra pictured at the top, to paint-and-wheel packages. The new regal Cobra, which we spied early in our SEMA adventure this year, may not be the replacement for the Cobra Jet as we speculated, but it does seem to point the way forward for the next iteration of a supreme Ford dragster. Fat drag slicks out back make it's reason for being abundantly clear, and for tells us that modded car is good for a 10.97-second quarter-mile run.