DAX Slips Into Red With Banks, Autos Pacing Declines
(RTTNews) - German stocks traded lower on Wednesday amid concerns over whether other countries could be targeted for tariffs under incoming U.S. President Donald Trump, a day after he pledged to impose significant tariffs on goods from Canada, Mexico, and China.
Meanwhile, investors' demand for a risk premium on French debt has increased amid political uncertainties.
France's budgetary issues and political tensions push the OAT-Bund spread to levels not seen since 2012.
The benchmark DAX dropped 81 points, or 0.4 percent, to 19,214 after declining 0.6 percent in the previous session.
Auto stocks extended declines from the previous session, with BMW, Mercedes Benz and Volkswagen falling between half a percent and 1 percent.
Banks Commerzbank and Deutsche Bank were down 2 percent and 1.3 percent, respectively.
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U.S. Retail Sales Climb 0.5% In July, In Line With Estimates
U.S. Industrial Production Edges Slightly Lower In July
New York Manufacturing Index Unexpectedly Increases In August
U.S. Import Prices Rise More Than Expected In July
U.S. Retail Sales Climb In Line With Estimates In July
