European Auto Stocks Sink, UBS Downgraded, Next Positive
On this episode of Stock Movers:- European auto stocks fall after President Donald Trump announced a “permanent” 25% tariff on any car not produced in the US. Stellantis and German manufacturers Porsche, Mercedes and BMW are the biggest decliners, as analysts see them as most exposed to the decision. The main European car and car parts index erased its year-to-date gains yesterday, ahead of Trump’s announcement.- UBS shares fall as much as 5.6% as Bank of America downgrades the lender to under perform, saying the lack of clarity on regulation is likely to drag on for…
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