LIVE MARKETS-US stocks dip with carmakers after Trump tariff plan

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U.S. STOCKS DIP WITH CARMAKERS AFTER TRUMP TARIFF PLAN

All three major U.S. stock indexes are slightly lower in early trading on Thursday with shares of General Motors GM.N down more than 6% after U.S. President Donald Trump announced late Wednesday his plan to implement 25% tariffs on imported cars and light trucks effective next week.

Tariffs on auto parts are expected to begin from May 3.

The news increased trade war fears, as governments from Ottawa to Paris threatened retaliation on Thursday.

Shares of Ford Motor F.N are down 2.9%, while shares of Tesla TSLA.O are up 1.8%.

Adding to the day's bearishness, shares of Jefferies Financial Group JEF.N are down about 8%. Late Wednesday the company reported a first-quarter profit that missed Wall Street estimates, with bond trading weakening and stock market deals stalling due to uncertainty about U.S. trade policy and geopolitics.

Here is the early market snapshot:

(Caroline Valetkevitch)

FOR THURSDAY'S EARLIER LIVE MARKETS POSTS:

JEFFERIES' WEAK Q1 RESULTS STOKE FEARS FOR WALL STREET'S INVESTMENT BANKS - CLICK HERE

GROWTH OFF TO A ROUGH START VS VALUE - CLICK HERE

CHINESE ANIMATED FILM NE ZHA PARTLY BEHIND SENTIMENT BOOST - BOFA - CLICK HERE

UBS REFRESHES TOP PICKS IN "DEEPLY UNDERVALUED" UK SMALL AND MID CAP SPACE - CLICK HERE

TARIFF MAN BRUISES EUROPEAN STOCKS - CLICK HERE

EUROPE BEFORE THE BELL: WATCH AUTO STOCKS - CLICK HERE

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