Advance Auto Parts, Inc. (NYSE:AAP) shares are trading lower by 5.3% to $39.20 during Monday's session. Shares of auto supplier stocks may be under pressure following weak guidance from Stellantis, which could be causing concern for the sector.

What Happened: Shares of Advance Auto Parts fell sharply Monday, following the announcement from Stellantis NV (NYSE:STLA) that the global automaker revised its fiscal 2024 guidance.

The Stellantis report, which sent shockwaves across the auto sector, also led to declines in other major automakers like General Motors Co (NYSE:GM) and Ford Motor Co (NYSE:F), with market concerns growing over weakened...