DAX Drops As War Fears Rattle Markets
(RTTNews) - Amidst growing uncertainty surrounding the raging Israel-Iran conflict, the DAX benchmark extended its losing streak for the third day. The benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange is trading with losses of more than half a percent.
The index is currently trading 0.65 percent lower at 23,192.58, versus the previous close of 23,343.17. The day's trading ranged between a high of 23,255.34 and a low of 23,115.85.
In the 40-scrip index, only 13 scrips are trading in the overnight green zone. Sartorius topped with overnight gains of 1.5 percent. MTU Aero Engines also rallied more than 1 percent.
Zalando plunged 4.1 percent. Adidas and Continental, both lost more than 1 percent. With the six-currency Dollar Index edging up 0.07 percent to trade at 98.95, the EUR/USD pair has slipped 0.09 percent. It is currently at 1.1474 after ranging between 1.1489 and 1.1446. The EUR/GBP pair has edged down 0.04 percent to 0.8541. The EUR/JPY pair has increased 0.28 percent to 167.10.
Amidst a global hardening in bond yields, ten-year German bond yields have spiked 0.64 percent overnight to 2.5160 percent. The yield which was at 2.5000 percent at the previous close ranged between 2.5380 percent and 2.5100 percent in the day's trading.
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