Stock markets jump on report of delayed US auto tariffs

Updated: few hours ago

London, May 15 (AFP) Stock markets gained ground Wednesday on news that US President Donald Trump planned to delay auto tariffs.

Industry sources told AFP Trump was planning to delay imposing tariffs on EU auto imports while the US pursues agreements with key trading partners.

European and US markets that had been in negative territory earlier in the day suddenly jumped higher, with German auto manufacturers among those who stood to benefit.

"Whether or not the news will be confirmed remains to be seen. Traders are buying European car shares" meanwhile, remarked Fawad Razaqzada at Forex.com.