Global auto stocks have experienced a notable decline following the imposition of tariffs by U.S. President Donald Trump on imports from Canada, Mexico, and China. Concerns regarding potential profit impacts and disruptions in global supply chains have led to significant drops in shares of major European carmakers. The European Stoxx 600 index fell by 1.3%, with Tesla shares dropping as much as 7.5% at one point. Elon Musk, the CEO of Tesla and a prominent figure in the automotive industry, has been identified as the biggest financial loser from these tariffs, with reports indicating substantial losses in his net worth as the market reacted to the trade policy changes. The situation continues to evolve as investors assess the broader implications of the tariffs on the automotive sector and global trade.