DAX Slips As Uncertainties Mount
(RTTNews) - German stocks fell on Tuesday to extend recent losses amid heightened geopolitical tensions, hawkish Fed comments and news of fresh lockdowns in China.
The benchmark DAX was down 101 points, or 0.8 percent, at 12,172 after finishing marginally lower the previous day.
The leaders of the G7 group of nations will hold a virtual meeting today to discuss offering further support to Ukraine after Moscow launched retaliatory missile strikes that killed 19 people.
German government bond yields held near 11-year highs after reports Chancellor Olaf Scholz was prepared to back European Union-wide joint debt issuance to help the bloc's members tackle the energy crisis.
Longer-term U.S. Treasury yields shot higher after Fed Vice Chair Lael Brainard said the central bank has no intentions of a dovish pivot in the near-term.
China stepped up anti-COVID measures in mega cities to control a spike in new virus cases following a week-long National Day holiday that ended Friday,
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