Porsche shares shed 7% after cutting outlook

European stocks edged lower Monday as investors reacted to U.S. President Trump’s surprise H-1B visa fee hike.

The Stoxx 600 fell 0.2%, with auto stocks hardest hit—Porsche dropped 6.7% after lowering its 2025 profit forecast and delaying electric car launches, dragging Volkswagen down 5.5%.

The new $100,000 visa fee, effective Sunday, has raised concerns for companies reliant on skilled foreign workers, drawing criticism from India, CNBC has reported.

Meanwhile, eurozone consumer confidence data is expected later, and Asia-Pacific markets were mixed after China kept key lending rates unchanged.

read more: https://www.cnbc.com/2025/09/22/europe-markets-tech-stocks-in-focus-after-trumps-visa-crackdown.html

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