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Volkswagen has been removed from the eurozones most important blue-chip index for the first time in 15 years, in a move traders said could pile further downward pressure on the German carmakers already battered shares. Volkswagen shares have fallen by more than three-quarters from the levels reached during the 2021 stock market rally, hitting a roughly 16-year low. Volkswagen was removed from the Euro Stoxx 50 index, which covers the entire eurozone, in an assessment by index provider Stoxx. Volkswagens exit, following last years removal of Fiat and Peugeot maker Stellantis, underscores the threat that the rise of Chinese competitors poses to the sector and reflects market scepticism over Volkswagens historic restructuring plan, which will result in 100,000 jobs being cut.