DAX Down Sharply Despite Coming Off Early Lows

RTTNews | 70 दिनों पहले
DAX Down Sharply Despite Coming Off Early Lows

(RTTNews) - German stocks are down sharply Thursday morning due to heavy selling almost across the board as investors react to the U.S. government's announcement of "reciprocal tariffs."

U.S. President Donald Trump announced a 10% baseline on all US imports and a 20% rate for goods from the European Union, with a steeper 25% tariff on imported cars set to take effect immediately.

The much steeper-than-expected tariffs on US trade partners, has heightened concerns over a global trade war that could destabilize major economies.

President of the European Commission, Ursula von der Leyen posted on X that the universal tariffs announced by the U.S. are a major blow to businesses and consumers worldwide. "Europe is prepared to respond. We'll always protect our interests and values. We're also ready to engage," she wrote.

Some Asian countries such as China, Japan and South Korea have reportedly agreed to jointly respond to the U.S. tariffs.

The benchmark DAX, which plunged nearly 570 points to a more than 2-month low of 21,805.77 in early trades, was down 300.39 points or 1.34% at 22,074.71 a little while ago.

Adidas, the biggest loser in the index, is down nearly 10%, as fashion and sportswear industries are likely to be severely hit by steep tariffs.

Commerzbank is declining 5.7% and Deutsche Bank is down 4.3%. Deutsche Post is lower by about 4.1%.

Siemens, Siemens Healthineers, MTU Aero Engines, Infineon Technologies, BASF, Heidelberg Materials and SAP are down 2.3 to 4%.

Porsche Automobil Holding, Continental, Symrise and Allianz are also notably lower.

Vonovia is up nearly 4%. E.ON, Beiersdorf, Fresenius Medical Care, Qiagen, Henkel and Rheinmetall are gaining 1.3 to 2%.

Hannover Rueck, Deutsche Telekom, BMW, Deutsche Boerse, RWE and Bayer are up with moderate gains.

Data from S&P Global said the HCOB Germany Composite PMI for March was revised higher to 51.3 from a preliminary of 50.9 and compared to 50.4 in February. The reading marked the strongest expansion in the private sector in ten months.

The manufacturing PMI came in with a score of 48.3, compared to 46.5 in February, while the service sector PMI moderated slightly to 50.9 in March from 51.1 a month earlier.

read more
Canadian Market Up Slightly In Cautious Trade

Canadian Market Up Slightly In Cautious Trade

After a flat start and a subsequent drop, the Canadian market moved into positive territory Thursday morning, led by gains in materials and communications sectors. The mood remains cautious amid uncertainty about U.S.-China trade deal and easing prospects of he European Union arriving at a pact with the U.S. before the July 8 deadline. Middle East tensions also weigh on sentiment.
RTTNews | 1घंटे 40 मिनट पहले
U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May. The Labor Department said its producer price index for final demand inched up by 0.1 percent after slipping by a revised 0.2 percent in April.
RTTNews | 4घंटे 28 मिनट पहले
U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th. The report said initial jobless claims in at 248,000, unchanged from the previous week's revised level. Economists had expected jobless claims to dip to 240,000 from the 247,000 originally reported for the previous week.
RTTNews | 4घंटे 31 मिनट पहले
Bay Street Likely To Open On Negative Note

Bay Street Likely To Open On Negative Note

Canadian shares are likely to open with a negative bias on Thursday as trade concerns, and Middle East tensions may weigh on sentiment. A lack of specifics in the framework agreed to by U.S. and Chinese officials on Tuesday has raised uncertainty about the two nations reaching an agreement anytime soon.
RTTNews | 5घंटे 14 मिनट पहले
U.S. Producer Prices Inch Up Less Than Expected In May

U.S. Producer Prices Inch Up Less Than Expected In May

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May.
RTTNews | 5घंटे 40 मिनट पहले
U.S. Weekly Jobless Claims Unchanged At 248,000

U.S. Weekly Jobless Claims Unchanged At 248,000

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th.
RTTNews | 5घंटे 46 मिनट पहले
Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Shares Hit After 787-8 Dreamliner With 242 Onboard Crashes In India

Boeing Co. shares are currently down around 8 percent in the pre-market activity on the NYSE after an Air India aircraft headed to London with 242 people onboard crashed immediately after take-off in the Indian city of Ahmedabad. The plane, a Boeing 787-8 Dreamliner headed to Gatwick Airport in the UK, crashed in a civilian area near the Sardar Vallabhbhai Patel International Airport.
RTTNews | 5घंटे 59 मिनट पहले
FTSE 100 Recovers After Weak Start, Up Marginally

FTSE 100 Recovers After Weak Start, Up Marginally

After opening on a negative note amid trade tensions and data showing a contraction in the nation's GDP growth in April, U.K. stocks recovered some lost ground on Thursday. Still, amid uncertainty about China and the U.S. agreeing on a concrete trade deal anytime soon, and lingering concerns about the European Union finalizing a trade deal before the July 8 deadline, the mood in the market remain
RTTNews | 6घंटे 10 मिनट पहले