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Wall Street Sees Stock Rout Ending, While European Rivals Are Not So Sure

(Bloomberg) -- There’s a geographical divide growing in views of the stock market, with European banks more skeptical than their generally sanguine US rivals.Most Read from BloombergThey Built a Secret Apartment in a Mall. Now the Mall Is Dying.Why Did the Government Declare War on My Adorable Tiny Truck?Trump Slashed International Aid. Geneva Is Feeling the Impact.Chicago Transit Faces ‘Doomsday Scenario,’ Regional Agency SaysParis Votes to Make 500 More Streets Car-FreeStrategists at Switzerla

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Portugal's Galp confident it will find alternative markets if US tariffs bite

Portuguese oil company Galp Energia's gasoline exports to the United States could be curtailed if U.S. President Donald Trump imposes tariffs on European goods, but the company is confident it can find alternative destinations. Executive Board member Ronald Doesburg, who is in charge of industrial assets, told Reuters on Tuesday that if U.S. demand for gasoline drops as a result of higher prices stemming from the proposed 25% tariffs, Galp will be able to deal with it.

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Why Is Carvana (CVNA) Stock Rocketing Higher Today

Shares of online used car dealer Carvana (NYSE: CVNA) jumped 6.3% in the pre-market session after Morgan Stanley analysts upgraded the stock's rating from Neutral to Buy. The analysts noted that the stock's recent pullback represented a "unique opportunity to build a position."

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Consumer confidence is sliding as Americans' view of their financial futures slumps to a 12-year low

U.S. consumer confidence continued its sharp 2025 decline as Americans’ views about their financial futures slumped to a 12-year low, driven by rising anxiety over tariffs and inflation. The Conference Board reported Tuesday that its consumer confidence index fell 7.2 points in March to 92.9, the fourth straight monthly decline and its lowest reading since January of 2021. The reading was short of analysts expectations for a reading of 94.5, according to a survey by FactSet.

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Tesla sales fall by 49% in Europe even as the electric vehicle market grows

European sales of Tesla electric vehicles tumbled 49% in the first two months of the year compared with a year earlier even as overall sales of EVs grew, according to the European Automobile Manufacturers' Association. There have been complaints about an aging lineup of vehicles from Tesla and also a significant backlash against CEO Elon Musk and his affiliation with the Trump administration in the U.S. In Europe, Musk's endorsement of Germany's far-right Alternative for Germany party in last month's national election drew broad condemnation. On Tuesday, BYD reported a record 777.1 billion yuan ($107 billion) in revenue for 2024 as sales of its electric and hybrid vehicles jumped 40%.

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