Auto Stocks Slide On Reports US Car-Import Probe Is Advancing

Minutes before the close of a brutal trading day that saw the Dow dump more than 600 points,Bloomberg published a report that simultaneously stoked the worst fears of German carmakers and US investors who are desperately searching for a positive trade-related headline to reignite the rally. The headline sent shares of Ford and GM lower into the close.

The White House is circulating a draft report by the US Commerce Department about whether to impose Section 232 tariffs on automobile imports. The report, which is the latest sign that Trump's investigation into auto tariffs is moving forward, should offer an update on the status of the probe.

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