DAX Down Sharply As Stocks Tumble On Tariff Concerns

RTTNews | 55天前

(RTTNews) - German stocks are down sharply on Friday as trade war concerns hurt sentiment following U.S. President Donald Trump imposing a 35% tariff on Canadian imports, effective August 1.

Trump also talked about blanket tariffs of 15 to 20% on most of America's trading partners and announced plans to make a 'major statement' on Russia.

Meanwhile, markets await news on tariffs for the European Union. Currently, the U.S. imposes 50% tariffs on EU steel and aluminum, 25% on cars and 10% on all EU imports.

The benchmark DAX, which dropped to 24,166.46, was down 270.60 points or 1.11% at 24,202.48 a few minutes ago.

Brenntag, Siemens Healthineers, Deutsche Post, Siemens and Commerzbank are down 2 to 2.25%.

Deutsche Bank, Daimler Truck Holding, Sartorius, Heidelberg Materials, Rheinmetall, Continental, Infineon Technologies, SAP, Bayer, BASF, Beiersdorf, Qiagen, Adidas, Porsche and Fresenius Medical Care are down 1 to 1.7%.

In economic news, Germany's wholesale price inflation accelerated in June largely reflecting higher prices of food and beverages, data from Destatis showed.

Wholesale prices grew 0.9% on a yearly basis in June, following April's 0.4% increase. The increase in June was the fastest in three months.

Destatis said the main reason for the annual growth was higher prices of food, beverages and tobacco, with prices up 4.2%.

The wholesale selling prices of non-ferrous ores, non-ferrous metals and non-ferrous semi-finished metal products also increased substantially. By contrast, wholesale of solid fuels and mineral oil products logged a notable decline.

Month-on-month, wholesale prices gained 0.2% in June, partially offsetting the 0.3% fall a month ago.

Canadian Market Looks Headed For Another Positive Close

The Canadian market is firmly placed in positive territory Thursday afternoon, thanks largely to a fine performance by several technology stocks, and a few frontline stocks from consumer discretionary, real estate, communications and financials sectors.

RTTNews | 1小時33分鐘前

Swiss Market Closes On Buoyant Note

The Switzerland market closed on a strong note on Thursday, in line with most of the markets across Europe, amid rising expectations of a rate cut by the Federal Reserve, and easing concerns about tariffs.

RTTNews | 2小時7分鐘前

European Stocks Close Higher Ahead Of Crucial U.S. Jobs Data

European stocks closed mostly higher on Thursday, with most of the markets in the region gaining for a second straight day amid cooling bond markets. Still, the mood in the markets remained a bit cautious with investors looking ahead to crucial U.S. non-farm payroll data on Friday.

RTTNews | 2小時43分鐘前

U.S. Services Index Climbs To Six-Month High In August

Service sector growth in the U.S. accelerated by more than anticipated in the month of August, according to a report released by the Institute for Supply Management on Thursday. The ISM said its services PMI rose to 52.0 in August from 50.1 in July, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.5.

RTTNews | 5小時10分鐘前

U.S. Labor Productivity Surges 3.3% In Q2, Much More Than Previously Estimated

A report released by the Labor Department on Thursday showed labor productivity in the U.S. surged by much more than previously estimated in the second quarter of 2025. The Labor Department said labor productivity shot up by 3.3 percent in the second quarter compared to the previously reported 2.4 percent jump. Economists had expected the increase in labor productivity to be unrevised.

RTTNews | 5小時28分鐘前

U.S. Trade Deficit Widens More Than Expected As Imports Spike

With the value of imports spiking, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened more than expected in the month of July. The Commerce Department said the trade deficit shot up to $78.3 billion in July from a revised $59.6 billion in June. Economists had expected the trade deficit to increase to $75.7 billion.

RTTNews | 5小時58分鐘前

U.S. Jobless Claims Rise More Than Expected To Two-Month High

A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits rose by more than expected in the week ended August 30th. The Labor Department said initial jobless claims climbed to 237,000, an increase of 8,000 from the previous week's unrevised level of 229,000.

RTTNews | 6小時2分鐘前

U.S. Private Sector Job Growth Slows More Than Expected In August

A report released by payroll processor ADP on Thursday showed private sector employment in the U.S. increased by less than expected in the month of August. ADP said private sector employment rose by 54,000 jobs in August after jumping by an upwardly revised 106,000 jobs in July. Economists had expected private sector employment to rise by 65,000 jobs.

RTTNews | 6小時19分鐘前

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