European stocks close lower as Porsche slides 7% after cutting outlook
European stocks closed lower on Monday, as investors continued to monitor U.S. President Donald Trump’s visa crackdown.
The pan-European Stoxx 600 index ended the day 0.5% lower, with most sectors and major bourses in negative territory.
Auto stocks notched some of the biggest losses, with the Stoxx Europe Automobiles and Parts index sliding 1.9%.
Germany’s Porsche led the declines, down 7.2%, after the luxury sportscar manufacturer recently slashed its 2025 profitability outlook. The company also delayed the launch of electric car models due to weak demand. Volkswagen, Porsche’s biggest shareholder, also fell on the news, closing the session down 7.1%.
Meanwhile, the Trump administration on Friday signed a surprise order to raise the so-called H-1B application fee to $100,000.
Source : CNBC.com