DAX Slips Amid US-China Tensions
(RTTNews) - German stocks fell in cautious trade on Tuesday, as a likely visit by U.S. Speaker of the House Nancy Pelosi to the self-governing island of Taiwan raised jitters about an escalation in tensions between the world's two superpowers. China said it would take resolute measures if Pelosi trip to Taiwan goes ahead.
The benchmark DAX dropped 70 points, or half a percent, to 13,409 after ending little changed the previous day.
Pfeiffer Vacuum Technology shares plunged nearly 7 percent. The manufacturer of vacuum solutions reported higher Q2 profit and confirmed its previous guidance for fiscal 2022 in an increasingly volatile environment.
Krones AG gained half a percent. The packing and bottling machine manufacturer reported a rise in first-half profit and confirmed its full-year guidance.
Fresenius Medical Care gained half a percent and Covestro was little changed after unveiling their quarterly results.
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