Trade war and growth worries drive markets down, as UK car sales fall – business live
Rolling coverage of the latest economic and financial news, as shares fall in Asia and Europe after heavy losses on Wall Street
- Introduction: Tariff Man spooks the markets
- Asian markets have fallen 1%
- Europe opens in the red
- UK car sales fall again
Newsflash: UK car sales fell by 3% last month, as Brexit angst weighed on the market.
The Society for Motor Manufacturers and Traders reports that 158,639 new vehicles were registered last month, nearly 5,000 fewer than a year ago.
“Model and regulatory changes combined with falling consumer confidence conspired to affect supply and demand in November.
The good news is that, as supply constraints ease, and new exciting models come on sale in the months ahead, buyers can look forward to a wide choice of cutting-edge petrol, diesel and electrified cars. It’s now critical that a Brexit deal is secured to boost consumer confidence and provide a stimulus to the new car market as we enter the New Year.”
European stock markets have fallen to a two-week low.
The Stoxx 600 index has shed 1.2%, as traders in Frankfurt, Paris, Madrid and Milan join the selloff.
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Author: Graeme Wearden