GM shares slid 5.5 percent to $27.57 on the New York Stock Exchange, after hitting a session low of $27.51 and were the biggest drag on the Dow average. GM said it had been subpoenaed by the Securities and Exchange Commission, which is investigating its accounting.
A GM spokeswoman denied rumours the company is filing for Chapter 11 bankruptcy protection from its creditors.
The Dow Jones industrial average was down 56.27 points, or 0.54 percent, at 10,288.71. The Standard & Poor's 500 Index was down 5.05 points, or 0.42 percent, at 1,186.33. The technology-laced Nasdaq Composite Index was down 20.70 points, or 0.99 percent, at 2,079.35.