DAX Slips On Rate, Growth Concerns
(RTTNews) - German stocks traded lower on Tuesday amid uncertainty about the Federal Reserve's rate hike path and concerns about a slowing Chinese economy.
The euro was down for a sixth straight session to hover near a six-month trough against the dollar on concerns of a widening interest rate gap in favor of the U.S.
The benchmark DAX was down 55 points, or 0.4 percent, at 15,350 after closing 1 percent lower the previous day.
Banks Commerzbank and Deutsche Bank were down 0.6 percent and 1.5 percent, respectively while automaker Renault dropped 1.2 percent.
Nordex, a turbine manufacturer, declined 1.3 percent. The company has received an order from Romania to supply and install five N149/5.X turbines.
The contract also includes a premium service contract for the maintenance of the turbines over 20 years.
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