NEW YORK, March 27, 2025 (BSS/AFP) - US stocks fell Thursday after President Donald Trump announced a 25 percent tariff on cars and parts not built in the United States, with automakers slipping on the news.

Auto giant General Motors' share price opened down 7.8 percent Thursday, while Ford and Stellantis fell 3.1 percent and 4.0 percent shortly after markets opened.

Around 15 minutes into trading, the Dow Jones Industrial Average was down 0.7 percent at 42,147.78, while the broad-based S&P 500 Index fell 0.7 percent to 5,675.32.

The tech-heavy Nasdaq Composite Index fell 0.7 percent to 17,767.79.

"I think Wall Street is saying they don't like the tariffs, but they don't think they'll be in place long enough to cause a recession," CFRA's Sam Stovall told AFP before markets opened.

Among other firms, chip titan Nvidia fell 1.4 percent as market sentiment soured.

And Dollar Tree's shares slipped 3.7 percent, a day after the firm announced it was selling the bargain store family dollar.