European stocks were slightly lower on Monday morning as investors closely monitored President Donald Trump’s visa crackdown.
The Pan-European Stoxx 600 index was 0.1% lower at 11:27am (6:27am ET) in London, with most sectors and major blues in negative territory.
Auto inventory marked some of the biggest losses in early transactions. The Stoxx Europe Automobiles and Parts Index fell 2.6% at 11:27am in London.
Germany’s Porsche The luxury sports car manufacturer has recently led a decline of 8.3% after a significant reduction in its profitability outlook for 2025. The company also delayed the launch of its electric vehicle models due to weak demand. VolkswagenPorsche’s biggest shareholders also fell into the news, falling by about 7.7%.
Meanwhile, the Trump administration on Friday signed a surprising order to raise the so-called H-1B application fee to $100,000.
The declaration, which came into effect on Sunday, requires businesses to pay a new six-figure fee to obtain the required visa for new employees entering the country. The move comes as part of an effort designed to protect American jobs, resulting in further crackdowns on immigrants from the White House.
India said with a $100,000 fee for applications for the H-1B Visa programme, “it is likely to have humanitarian consequences from the disruption caused by families.”
In terms of data, the Eurozone consumer trust flash estimate will be paid around 3pm in London.
The Asia-Pacific stock markets mixed as investors received China’s major lending rate decisions. China’s central bank has not changed its loan prime rate (LPR) for the fourth consecutive month, in line with Reuters polls.
