Auto stocks are taking the tariff news on the chin.
Shares in carmakers such as Ford, General Motors and Stellantis sank in premarket trading, after President Trump said Wednesday he would slap 25% tariffs on automotive imports to the U.S.
International rivals such as BMW, Toyota and Hyundai that export to the U.S. also came under pressure. Foreign markets are more exposed to auto pain than the U.S.
That said, the drop in auto share prices has so far been relatively modest, in the low single-digit percentages. Some automakers have more to lose than others.
More broadly, index futures were flat to modestly higher early Thursday. That pointed to a calmer session after Wednesday's pullback, which sent the Nasdaq Composite down 2%, while the S&P 500 and Dow industrials suffered smaller declines.
In recent trading:
--Index futures were muted. Contracts to the Dow edged higher.
--Benchmark Treasury yields crept higher. The 10-year yield had settled at 4.337% on Wednesday.
--European stocks slipped. In Asia, Japan's Nikkei 225 lost 0.6%, while the Hang Seng Index added 0.4%.
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(END) Dow Jones Newswires
March 27, 2025 07:49 ET (11:49 GMT)
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