The morning catch up: global car markets on high alert with the trade tariffs back on the table; ASX to slip

March 28, 2025 07:03 PM AEDT | By Team Kalkine Media

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The morning catch up: global car markets on high alert with the trade tariffs back on the table; ASX to slip

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Highlights:

ASX200 futures indicate a weaker open following declines in US and European markets.

Global automotive stocks react to renewed trade discussions and tariff concerns.

Commodities mixed, with gold prices rising while base metals decline.

Global markets have responded to the latest trade developments, with automotive stocks experiencing significant movement. The ASX200 is expected to open lower as US and European equities reacted to concerns surrounding potential tariff changes. Wall Street closed in negative territory, reflecting broader uncertainty across sectors, while European indices followed a similar trend.

US Market Performance
Major US indices ended lower, with the automotive sector leading declines. General Motors (NYSE:GM) and Ford (NYSE:F) recorded losses as investors assessed the impact of proposed trade measures. Auto component manufacturers, including Aptiv (NYSE:APTV) and BorgWarner (NYSE:BWA), also saw declines. However, Tesla (NASDAQ:TSLA) remained relatively stable amid expectations of limited exposure to trade policy shifts.

European Market Trends
European stock markets followed Wall Street, with auto manufacturers seeing notable declines. Porsche (ETR:P911), Mercedes (ETR:MBG), and BMW (ETR:BMW) all faced downward pressure, while Volkswagen (ETR:VOW3) also registered losses. French automaker Stellantis (BIT:STLA) experienced sharp declines as markets digested potential industry-wide effects of tariff changes.

Currency and Commodity Movements
Currency markets reflected a shift in sentiment, with the euro strengthening against the US dollar, while the Australian dollar gained slightly. The Japanese yen saw minimal movement. Oil prices continued their upward trend, supported by supply concerns linked to geopolitical tensions.

Base metals registered declines, with copper and aluminum experiencing lower trading volumes due to industrial demand concerns. Meanwhile, gold prices advanced as market participants adopted defensive positions. Iron ore prices showed marginal movement, remaining near recent levels.

Domestic Political and Economic Developments
The domestic political landscape remains a focus following the latest budget speech from Opposition Leader Peter Dutton. Proposed measures include adjustments to small business tax policies, alongside structural changes in public sector employment. Economic discussions are expected to gain momentum in the lead-up to upcoming electoral announcements.

Market Indicators
Futures data suggests a weaker start for the ASX200, aligning with trends observed across major global indices. Broader market sentiment remains cautious as discussions surrounding trade policies and geopolitical developments continue to shape investor outlooks.

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