BMW, Porsche Lead Auto Stock Rout on Trump Tariff Fears
- Trump has vowed to hike tariffs on car imports to protect jobs
- BMW also reported disappointing quarterly earnings over recall
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BMW AG and Porsche AG led German automaker shares lower over concerns the US will hike tariffs on imported cars after Donald Trump returns to the White House.
BMW, which reported disappointed quarterly earnings earlier Wednesday, fell as much as 7.5% in Frankfurt. Porsche, the maker of 911 sports cars, dropped to its lowest intraday value since the stock started trading more than two years ago. Shares of Mercedes-Benz Group AG and Volkswagen AG also declined.