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DAX Tumbles As Banks Drag On Contagion Fears
(RTTNews) - German stocks plunged on Friday, as banks suffered heavy losses on concerns over the collapse of pro-crypto Silvergate bank coupled with the hawkish stance taken by the U.S. Federal Reserve.
Investors waited for the release of monthly U.S. jobs report later in the day that could reinforce expectations of a bigger rate hike later this month.
The benchmark DAX was down 263 points, or 1.7 percent, at 15,370 after ending flat with a positive bias the previous day.
Commerzbank shares plummeted 5 percent and Deutsche Bank lost about 8 percent after U.S. tech-industry lender SVB Financial Group launched a share sale to shore up its balance sheet due to declining deposits from startups struggling for funding.
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Euro Rises Amid Risk-on Mood
The euro strengthened against other major currencies in the European session on Wednesday amid increased risk-on mood, as investors monitored the latest updates from Sino-U.S. talks and awaited crucial U.S. inflation data for direction.
After two days of discussions in London, U.S. and Chinese officials have agreed on a limited framework to put their trade truce back on track.
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59 minutos atrás
Euro Rises Against Majors
The euro strengthened against other major currencies in the European session on Wednesday.
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1 h 8 min atrás
Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains
Indian shares eked out modest gains on Wednesday as markets assessed the outcome of high-level U.S.-China talks and awaited key U.S. inflation readings for additional clues on the Federal Reserve's rate trajectory.
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1 h 9 min atrás
Tesla Shares Gain As Musk Sets Robotaxi Service Launch Tentatively On June 22
Tesla Inc. shares were gaining around 2.4 percent in the pre-market activity on the Nasdaq following a 6 percent jump on Tuesday's regular trading, after the founder and CEO Elon Musk confirmed that the much awaited robotaxi service is tentatively set to launch in Austin, Texas, on June 22. In a post on his social media platform X, Musk said, "Tentatively, June 22. We are being super paranoid...
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1 h 12 min atrás
DAX Up Marginally In Cautious Trade As Traders Await U.S. Inflation Data
German stocks advanced Wednesday morning, reacting positively to the news about top U.S. and Chinese officials reaching a framework to implement the Geneva consensus.
If approved, the Sino-U.S. deal will remove some restrictions on China's rare earth exports and unwind a few recent U.S. export bans.
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1 h 21 min atrás
European Shares Inch Higher Ahead Of US Inflation Report
European shares edged higher in cautious trade on Wednesday as investors monitored the latest updates from Sino-U.S. talks and awaited crucial U.S. inflation data for direction.
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2 h 32 min atrás
Asian Shares Climb On Trade Talk Optimism
Asian stocks advanced on Wednesday after top U.S. and Chinese officials said they have reached a framework to implement the Geneva consensus, following two days of discussions in London.
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3 h 0 min atrás
Commodity Currencies Slide Amid Crude Oil Price Drop
The commodity currencies such as the Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Wednesday amid crude oil price drop, as markets awaited the outcome of US-China trade talks, which have yet to be approved by President Donald Trump, with China's poor oil demand and OPEC+ output increases weighing on the market.
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3 h 28 min atrás
