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The Closing Bell: Global Stocks Saddled As Nafta Rewrite Drags On
FYI: President Donald Trump’s weekend threats to leave Canada out of the new North American Free Trade Agreement weighed on European and Asian stocks Monday.
Some investors were looking at the Nafta renegotiation as a bellwether for how far the U.S. is willing to take its trade spat with China.
Car makers in the Stoxx Europe 600 were the worst-performing sector in Europe and fell 1%, even as the broader index closed up 0.1%. Shares of Volkswagen, BMW and Daimler, which have car factories in the U.S. and Mexico, led the losses in Germany’s export-heavy DAX, which fell 0.1%.
Stock markets in Asia-Pacific were also weaker, with Japan’s Nikkei Stock Average closing down 0.8%, Hong Kong’s Hang Seng falling 0.6% and Australia’s S&P ASX 200 dropping 0.1%. Regards, Ted
