0838 GMT - European auto stocks fall after President Trump moved to place tariffs on hundreds of billions of dollars in imports from Canada, Mexico and China. Shares in Jeep maker Stellantis fall 6.2%. Germany's Volkswagen sheds 5.1% and Sweden's Volvo Car is down 4.9%. Porsche AG, Mercedes-Benz and BMW all fall about 4%, while Renault and Ferrari drop 2.2% and 2.3%, respectively. Detroit's big three carmakers, General Motors, Ford Motor and Stellantis, look like the most affected to the announced tariffs, notably GM, analysts at Jefferies say in a research note. The Stoxx Europe 600 Automobiles & Parts sector index is down 3.6%. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
February 03, 2025 03:38 ET (08:38 GMT)
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