Tariff Fears Hit Autos, Chipmakers, China-Exposed Stocks

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U.S. stocks slipped Jan. 31 to end the day in the red, with carmakers and Chinese companies leading the decline, as the White House said President Donald Trump intends to move ahead with plans on Feb. 1 to impose 25% tariffs on Mexico and Canada and a 10% levy on China.

A UBS Group AG basket of stocks at risk from the proposed tariffs sank 3.7%, while the S&P 500 Index reversed a gain of as much as 0.8% to close down 0.5%. The Bloomberg Dollar Spot Index jumped to a session high on the news, while the Cboe VIX Index climbed to a little over 16.

The threat of tariffs has loomed large over U.S. equities since Trump won the U.S. presidential election in early November. Investors and strategists have warned that high levies can reignite inflation in the country, and in turn, weigh on stocks.

Here are the stocks and sectors that can reac…