LIVE MARKETS-Tariff man bruises European stocks

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TARIFF MAN BRUISES EUROPEAN STOCKS

As predicted the first hour of trading has been mostly about autos, down around 2.3% but European shares more broadly are pretty bruised too, as traders are back to thinking maybe U.S. tariffs will be a thing after all.

The Stoxx 600 is down 0.7%. Unsurprisingly Germany's Dax is underperforming, down around 1%. .STOXX, .GDAXI

Aside from autos, banks, .SX7P heavily exposed to broad economic growth, are also under pressure, most notably, UBS UBSG.S 3.7% lower. A BofA downgrade has added to fears about the tougher rules facing the Swiss lender including and expectations of additional capital requirements.

At the other end of the Stoxx 600 British retailer Next is up 6% after reporting strong results. .NXT.L

(Alun John)

EARLIER LIVE MARKETS POSTS

EUROPE BEFORE THE BELL: WATCH AUTO STOCKS CLICK HERE

MORNING BID: DAS AUTO CAUGHT IN THE TARIFF CROSSHAIRS CLICK HERE