European automakers fall as Trump pledges tariffs
LONDON (Reuters) - European automakers shares fell in early trading on Tuesday, as traders reacted to President-elect Donald Trump pledging big tariffs on Canada, Mexico and China, news that fueled jitters over a potential global trade war.
A basket of European auto stocks was the worst performer among sectors shortly after the open, down 1.5% versus a 0.7% fall in the broader STOXX 600 .
Shares in Germany's Volkswagen (ETR:VOWG_p ) were down 2.1%, while Stellantis (NYSE:STLA ) was the biggest faller, off 3.3% just after 0800 GMT.
French car parts maker Valeo (EPA:VLOF ) also dropped 2.4%, while German luxury brand BMW (ETR:BMWG ) fell 1.7%. Daimler (OTC:MBGAF ) Truck was down 3.6%.
(This story has been refiled to read 'European' in the headline)
Source: Investing.com
