European stocks opened slightly lower on Monday as concerns grew over new U.S. visa rules and disappointing news from key carmakers. The Stoxx 600 index dropped 0.1%, with the automotive sector losing 2.6%.
Porsche shares fell over 8% after the company cut its 2025 profit forecast and delayed electric vehicle launches due to weak demand. Volkswagen, Porsche’s largest shareholder, also declined nearly 8%.
The U.S. raised the H-1B visa application fee to $100,000, effective Sunday, requiring companies to pay this high cost for foreign work visas. India criticised the move, saying it “is likely to have humanitarian consequences by way of the disruption caused for families.”
Investors await eurozone consumer confidence data later Monday. In Asia, markets were mixed after China’s central bank kept loan prime rates unchanged for the fourth month, indicating caution amid global uncertainties.