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%

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%

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