Trump Tariff Risk Hits Euro, German Auto Stocks; Renewables Fall

The euro headed for its worst day in over four years, while stocks such as carmakers underperformed, as an election victory for Donald Trump fueled worries about the imposition of import tariffs.

The common currency was down 1.8% against a strengthening dollar, set for its biggest one-day decline since March 2020, as Trump was elected US president in a stunning political comeback.