Honda shares slide nearly 7% as automaker flags first annual loss in 70 years

Honda has reported expectations for its first annual loss in 70 years, causing its shares to drop nearly 7%. The company attributes this downturn to supply chain disruptions and decreased consumer demand. Analysts are concerned about Honda's ability to rebound in the current economic climate. The news has negatively affected investor sentiment surrounding automotive stocks. Competitors may see increased interest as investors reassess their positions in Honda.