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Stock markets in the red as Trump targets foreign car imports

US President Donald Trump speaks during the National Prayer Breakfast at the US Capitol in Washington, DC, on February 6, 2025. (Photo by Mandel NGAN / AFP)

Shares in automakers led stock market losses yesterday after US President Donald Trump announced painful tariffs on imported vehicles and parts as he presses hardball trade policies many fear will spark a recession.

Wall Street's main indexes opened in the red, with General Motors sinking more than nine percent in early trading while Ford limited losses to under one percent.

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