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Morgan Stanley Cuts European Stocks View to Neutral With Tariffs, China as Headwinds
Asia Markets Mixed, BOJ's Ueda Offers Few Rate Hints; Eyes on LPR Decision and Nvidia Results
Goldman Sachs Sees More China Tariffs in Early 2025 With Trump Set to Return
China's Retail Turnover Rise to Eight-month High in Oct; Jobless Rate Fell to Four-month Low
Reports suggest that the Trump team plans to cancel the $7,500 tax credit for electric autos, leading to a sharp drop in electric car stocks.
The Trump team is considering canceling the $7,500 electric vehicle subsidy policy to fund its tax reduction plan. This policy is one of the measures adopted by the Biden administration to combat inflation. Trump supporters and the oil industry hope to cancel electric vehicle tax incentives, while the auto industry groups are calling for retention. Musk believes that canceling the subsidy policy will not have a significant impact on Tesla, but will rather cause more trouble for competitors. Electric vehicle stocks plummet, with Tesla down 5.77% and "Tesla rival" Rivian down 14.3%.
Asia Markets Mixed, Mirroring Global Market Sentiments as Investors Assess Latest U.S. CPI Figures