DAX Slides After German Top Court Rules Cities Can Ban Diesel Cars | Zero Hedge

DAX Slides After German Top Court Rules Cities Can Ban Diesel Cars | Zero Hedge:
"The DAX legged lower, led by sliding shares of Volkswagen, BMW and Daimler after Germany’s top administrative court ruled German cities have the right to ban diesel cars, a move which could have far-reaching consequences for the 12 million vehicles in Europe’s largest auto market, the FT reported.
The national court in Leipzig upheld earlier decisions from lower courts in Stuttgart and Düsseldorf, which had allowed the bans.
Those rulings had been appealed amid legal uncertainty over whether municipalities have the power to make such restrictions.
Prior to the ruling, Bloomberg predicted that if the court backs the city-level diesel bans, it would likely jump-start a wave of new policies targeting the fuel..."