European Auto Stocks Slide on Trump’s 25% Tariff Confirmation; STOXX 600 Flat at 611.98

European automotive stocks extended losses on May 4 after President Trump confirmed plans to raise U.S. tariffs on EU cars and trucks to 25% from 15%, following the May 1 announcement over alleged Turnberry Agreement violations. The STOXX 600 held flat at 611.98, with the automobiles index down 1.6%; BMW and Mercedes fell over 2%, Porsche and Volkswagen around 1.5%, and Continental dropped 4%. This policy escalation heightens export cost pressures for Europe 50 components, keeping regional equities about 4% below pre-war levels amid ongoing trade tensions.