DAX Falls As Automakers Decline On Tariff Concerns
(RTTNews) - German stocks fell notably on Tuesday, with automakers suffering heavy losses after U.S. President-elect Donald Trump vowed additional tariffs on China as well as U.S. neighbors Canada and Mexico, raising fears of a renewed trade war.
Automakers BMW, Mercedes Benz and Volkswagen were down 2-3 percent while the benchmark DAX was down 125 points, or 0.6 percent, at 19,280 after rising 0.4 percent in the previous session.
Eurozone government bond yields rose slightly ahead of upcoming inflation data that may influence the European Central Bank's policy direction.
Heightened geopolitical tensions and rising political tensions over the French budget also added to the economic uncertainties.
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Bay Street Likely To Open Higher On Firm Commodities, But Trade War Fears May Weigh
It's likely to be a positive start for Canadian stocks on Tuesday as higher crude oil and gold prices are likely to trigger some buying in energy and metal sectors. However, fears of a renewed trade war following U.S. President-elect Donald Trump pledging to impose tariffs on all imports from Mexico, Canada and China, may hurt sentiment and limit market's upside.
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Rivian Automotive Inc.'s shares gained around 13 percent on Monday's regular trading after reports emerged that the all-electric automaker has reached a conditional settlement with EV major Tesla Inc., regarding its four-year old lawsuit. The shares were gaining 7% further in the pre-market activity on the Nasdaq, despite a slight drop in previous day's extended trading, after Rivian announced...
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Indian shares ended slightly lower on Tuesday following two days of strong gains.
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U.K. stocks declined on Tuesday amid apprehensions that November's figures may signal the end of falling inflation.
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CAC 40 Slides As Le Pen Threatens To Topple Government Over Budget
French stocks traded lower on Tuesday after U.S. President-elect Donald Trump threatened sweeping new tariffs on Mexico, Canada and China on his first day in office to combat illegal immigration and drugs.
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Asian Shares Decline As Trade War Concerns Resurface
Asian stocks fell broadly on Tuesday after U.S. President-elect Donald Trump said he plans to impose 25 percent tariffs on Mexico and Canada and an additional 10 percent on China on his first day in office, ramping up fears of a renewed trade war.
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Commodity Currencies Drop After Trump's New Tariff Threats
The commodity currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Tuesday, after U.S. President-elect Donald Trump announced a 10 percent additional tariff on all Chinese goods and a 25 percent tariff on imports from Mexico and Canada, raising concerns over global trade tensions.
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