DAX Down 1.7% As Stocks Tumble On Rising Tariff Concerns

RTTNews | 6 days ago

(RTTNews) - German stocks are down sharply on Friday due to heavy selling across the board amid rising trade tensions following U.S. President Donald Trump announcing sharply higher tariffs on dozens of countries, including Canada and Switzerland. Trump also confirmed a 15% tariff on EU imports.

Pharma stocks are under pressure after Trump asked 17 major global pharmaceutical companies to lower drug prices in the U.S.

Investors are also continuing to react to corporate earnings announcements.

The benchmark DAX was down 411.74 points or 1.71% at 23.672.33 a little while ago.

Daimler Truck Holding is down nearly 6% after the owner of U.S. truck brand Freightliner trimmed its 2025 forecast, citing persisting market weakness in North America.

Siemens Energy is down 4.1% and Sartorius is declining 3.8%. Heidelberg Materials, Siemens, MTU Aero Engines and Merck are lower by 2.7 to 3.1%.

Infineon Technologies, BASF, Rheinmetall, Allianz and Zalando are down 2 to 2.5%.

SAP is down nearly 2% after signing a deal to buy SmartRecruiters, a talent acquisition software provider.

Fresenius Medical Care, Siemens Healthineers, Vonovia, Fresenius, Adidas, Continental, Deutsche Bank, Volkswagen, Qiagen and Symrise are down 1.3 to 1.7%.

BMW, Deutsche Post and Beiersdorf are also notably lower.

Bayer is bucking the trend and gaining about 3.2%, after raising its 2025 sales forecast.

E.ON and Commerzbank, the two other gainers in the benchmark index, are up marginally.

In economic releases, data from S&P Global showed the HCOB Germany Manufacturing PMI was revised slightly lower to 49.1 in July 2025 from a preliminary reading of 49.2 and compared to 49 in June, continuing to point to a deterioration in manufacturing business conditions.

Flash data from Eurostat showed Eurozone inflation remained at the European Central Bank's 2% target last month, bucking expectations of a slight fall.

Eurozone manufacturing moved closer to stabilization in the month, with the HCOB Eurozone Manufacturing PMI coming in at 49.8, up from 49.5 in June.

U.S. Wholesale Inventories Inch Up Less Than Expected In June

Wholesale inventories in the U.S. crept up by less than expected in the month of June, according to a report released by the Commerce Department on Thursday. The Commerce Department said wholesale inventories inched up by 0.1 percent in June after falling by 0.3 percent in May. Economists had expected wholesale inventories to rise by 0.2 percent, in line with the preliminary estimate.

RTTNews | 1h 11min ago

U.S. Labor Productivity Rebounds Roughly In Line With Estimates In Q2

Labor productivity in the U.S. saw a significant rebound in the second quarter of 2025, according to preliminary data released by the Labor Department on Thursday. The report said labor productivity shot up by 2.4 percent in the second quarter after tumbling by a downwardly revised 1.8 percent in the first quarter.

RTTNews | 1h 42min ago

U.S. Jobless Claims Rise More Than Expected To 226,000

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rose by more than expected in the week ended August 2nd. The Labor Department said initial jobless claims climbed to 226,000, an increase of 7,000 from the previous week's revised level of 219,000.

RTTNews | 1h 52min ago

Bank Of England Cuts Rate In Tight Vote

The Bank of England reduced its benchmark interest rate in a close call on Thursday suggesting that the monetary easing cycle is nearing an end as policymakers became more concerned about persistent inflation. The Monetary Policy Committee, headed by BoE Governor Andrew Bailey, voted 5-4 to cut the bank rate by 25 basis points to 4.00 percent.

RTTNews | 2h 49min ago

Global Cues, Firm Commodity Prices Point To Another Firm Start On Bay Street

Canadian shares are likely to open higher Thursday morning, tracking positive global cues and higher commodity prices.

RTTNews | 3h 32min ago

U.S. Labor Productivity Surges 2.4% In Second Quarter

Labor productivity in the U.S. saw a significant rebound in the second quarter of 2025, according to preliminary data released by the Labor Department on Thursday.

RTTNews | 3h 39min ago

U.S. Weekly Jobless Claims Rise More Than Expected

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rose by more than expected in the week ended August 2nd.

RTTNews | 3h 45min ago

Pound Jumps After BoE Rate Decision

The British pound strengthened against other major currencies in the European session on Thursday the Bank of England (BoE) reduced UK interest rates by a quarter point, making it the fifth reduction in a year, although almost half of its policymakers opted to maintain borrowing costs.

RTTNews | 4h 13min ago

EURUSD	1.16393	GBPUSD	1.34258	AUDUSD	0.65002
USDJPY	147.402	USDCAD	1.37492	USDCHF	0.80738

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DAX Down 1.7% As Stocks Tumble On Rising Tariff Concerns