European Auto Stocks Take a Hit

In a dramatic turn of events, shares of Europe's leading automakers experienced a significant drop this Friday. The cause? A new wave of uncertainty sweeping through the auto industry following President Donald Trump's decision to impose 25% tariffs on all vehicles not made in the United States.

Stellantis Announces Production Halts and Layoffs

Among the first to react was Stellantis NV, which announced a temporary shutdown of two assembly plants in Canada and Mexico. The move is expected to result in the layoff of nearly 5,400 employees, a direct response to the anticipated impact of these tariffs.

Market Reactions in Real Time

The stock market's response was swift and severe. By 3:42 pm CET, Stellantis' shares had plummeted by 7.07%, with Volkswagen, BMW, and Mercedes-Benz not far behind, each experiencing significant drops in their stock prices within minutes of each other.