European car stocks opened sharply lower by 3.5%! Trump's tariffs impact the global market, with the Stoxx 600 falling 1.3%.

European markets opened lower, trade war shadows reappeared

On Monday, European stock markets opened sharply lower, as US President Donald Trump imposed tariffs on multiple countries and threatened to take similar measures against the European Union and the United Kingdom. This decision has intensified market anxiety, leading to simultaneous pressure on global markets.

The pan-European index Stoxx 600 fell 1.34% at 8:30 am London time. All sectors are in negative territory, and investors are selling off risk assets, leading to a rise in market risk aversion.

(Is the global trade war about to begin? Trump's new tariffs have sparked strong backlash from multiple countries, and the global economy may face a new round of impact)

Automotive stocks take the brunt, French parts suppliers and carmakers suffer heavy setbacks.

Among them, the automotive industry has been the most severely affected, with the Stoxx 600 automotive index falling by 3.5%, once reaching a decline of 4%.

French auto parts supplier Valeo fell 8.3% in early trading, while the stock price of Renault, a French car manufacturer, fell 4%. The three major German car brands BMW, Volkswagen, and Porsche also suffered heavy losses, with stock prices falling by about 5%, indicating investors' concerns about the possible escalation of trade conflicts.

Technology, industrial and mining sectors are also affected, with Germany's DAX index falling more than 1.7%.

Not only the automobile industry, but also the technology, industry, and mining sectors are also not immune to the impact, and these industry indices have generally declined.