Advertisement
DAX Notably Lower As Trade War Worries Mount
(RTTNews) - German stocks are notably lower on Monday as trade war worries escalated after U.S. President Donald Trump threatened over the weekend that he would impose a 30% tariff on EU imports from August 1.
According to media reports, the European Union has prepared a €21 billion ($24.52 billion) tariff package targeting American goods if trade talks between the two sides collapsed.
The benchmark DAX, which dropped to 23,986.40 earlier in the session, was down 178.43 points or 0.74% at 24,061.55 a few minutes ago.
Automobile stocks are among the prominent losers.
Zalando is down more than 4%. Brenntag is lower by about 2.1%, while Porsche, BMW, Volkswagen, Mercedes-Benz, SAP and Infineon Technologies are down 1.4 to 1.7%.
Heidelberg Materials is declining 1.1%, while Porsche Automobil Holding, Siemens, Daimler Truck Holding, Deutsche Boerse, Sartorius, Hannover Rueck and MTU Aero Engines are also notably lower.
E.ON and Commerzbank are gaining about 0.7%, while Bayer, Qiagen and Fresenius are up with modest gains.
Bay Street Likely To Open On Mixed Note
Pound Falls As Traders Speculate BoE Rate Cut Decision
FTSE 100 Modestly Higher
Dollar Rebounds As Trade War Escalates
Pound Falls Against Majors
CAC 40 Moderately Lower As Trade War Concerns Hurt Sentiment
Sensex, Nifty Decline As Trade Tensions Weigh
