Germany And Its Automakers Getting Crushed As Chinese Rate Hike Fear Spreads

China’s rate hike problems are spreading across the globe this morning, with European indices hit by the move. UK markets are closed for the holiday.

  • DAX down 1.17%
  • CAC down 1.04%
  • IBEX down 1.59%
Chart

Specific industries are getting hit worse by the selloff. Notably, automobile manufacturers are in decline.

  • Volkswagen down 4.60%
  • Daimler down 4.24%
  • BMW down 4.98%
  • Porsche down 5.46%
Chart

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.