1051 ET - Canadian auto suppliers Linamar and Magna International face a deteriorating macroeconomic backdrop and renewed trade tensions. BMO's Tamy Chen downgrades both stocks to market perform from outperform, escalating trade volatility has pushed Magna and Linamar into more challenging waters. The new playing field has made her walk back a previously rosier outlook for the two companies. "We felt the continued margin improvement narrative would still drive some further share price appreciation," she says, but "now the Fed has turned hawkish and risk skews to the downside on production volume forecasts." Shares of Magna and Linamar trade down 2.8% and 3.4%, respectively.