DAX Edges Lower On Mideast Escalation Fears

(RTTNews) - German stocks traded notably lower on Friday as investors reacted to hawkish comments from Federal Reserve officials and signs of escalating tensions in the Middle East, with Iran downplaying Israel's retaliatory attack.

In economic releases, Germany's producer prices continued to decline in March, though at the slowest pace in nine months, data published by Destatis showed.

Producer prices registered an annual decrease of 2.9 percent after declining 4.1 percent in January. Prices have been falling since July 2023.

The overall decline in March was largely due to lower energy prices, which fell 7.0 percent from last year.

Month-on-month, producer prices rebounded 0.2 percent in March, after a 0.4 percent decrease in February.

The benchmark DAX was down 144 points, or 0.8 percent, at 17,693 after rising 0.4 percent in the previous session.