Auto shares dip, currencies fluctuate

“We believe that he’s using (auto tariffs) as a trade negotiation. The markets are jittery because nobody really knows what’s going to happen and what will come out in future,” Nicolas Lin, chairman and interim CEO of Aether Holdings.

European stocks fell, with weakness in shares of Europe’s top carmakers such as Volkswagen down nearly 2%, while BMW lost almost 3% and Mercedes-Benz slid more than 4%.

The dollar index, which measures the greenback against a basket of currencies, fell 0.2% to 104.43, with the euro up 0.24% at $1.0777.

The Mexican peso weakened 0.82% versus the dollar at 20.288 while the Canadian dollar weakened 0.39% versus the greenback to C$1.43 per dollar as both countries are expected to be heavily impacted by the tariffs.

Source – Reuters