DAX Tumbles 1.76% As Auto Stocks Slide On Tariff Concerns

RTTNews | 206 gün önce
DAX Tumbles 1.76% As Auto Stocks Slide On Tariff Concerns

(RTTNews) - German stocks are down sharply Monday morning, hurt by weakness in global markets following the Trump administration imposing punitive tariffs on Canada, Mexico and China, and threatening to levy tariffs on the EU and UK as well.

The Trump administration's 25% tariffs on Canada and Mexico came into force on Saturday (February 1). Canadian energy faces a 10% tariff as do Chinese goods, effective Wednesday (February 5).

The benchmark DAX, which tumbled to 21,258.00, was down 381.69 points or 1.76% at 21,329.74 a little while ago.

Daimler Truck Holding is down 6.2%. Volkswagen is declining 5.6%, while Mercedes-Benz, Continental, BMW and Porsche are down 4 to 4.5%.

BASF, Siemens Energy, Puma, Deutsche Boerse, Infineon, Siemens, Bayer, Zalando, Deutsche Bank, Brenntag, SAP, Adidas, Commerzbank, Siemens Healthineers and Sartorius are down 1.5 to 4%.

Rheinmetall is bucking the trend and moving higher by over 2.5%. Deutsche Telekom is advancing nearly 1%.

Data from S&P Global showed that the manufacturing PMI in Germany increased to 45 points in January from 42.50 points in December of 2024.

Euro area manufacturing PMI and flash CPI data for the region are awaited later in the day.

read more
European Shares Seen Higher At Open

European Shares Seen Higher At Open

European stocks are seen opening broadly higher on Thursday even as Nvidia's disappointing sales forecast raised concerns about the AI spending boom.
RTTNews | 26 dakika önce
Sensex Nifty Decline On Tariff Worries

Sensex Nifty Decline On Tariff Worries

Indian shares opened on a sluggish note on Thursday after U.S. President Donald Trump's 50 percent tariffs on Indian goods came into effect, impacting trade worth billions of dollars and risking Washington-New Delhi ties.
RTTNews | 1s 18 dakika önce
European Economic News Preview: Eurozone Economic Sentiment Data Due

European Economic News Preview: Eurozone Economic Sentiment Data Due

Economic confidence and monetary aggregates from the euro area and flash GDP from Switzerland are the top economic news due on Thursday. At 3.00 am ET, the State Secretariat for Economic Affairs is slated to release Swiss GDP data for the second quarter. The economy is expected to grow 0.1 percent sequentially after rising 0.5 percent in the first quarter.
RTTNews | 1s 19 dakika önce
Australian Market Trims Early Losses In Mid-market

Australian Market Trims Early Losses In Mid-market

The Australian market is trimming early losses in mid-market moves on Thursday, giving up some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,950 level, with weakness in iron ore miners, energy and technology stocks partially offset by gains in financial stocks.
RTTNews | 2s 45 dakika önce
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as traders remain optimistic the US Fed will cut interest rates at their next meeting in September. They also remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the Fed's preferred readings on consumer price inflation.
RTTNews | 3s 0 dakika önce
Swiss Market Settles Modestly Higher

Swiss Market Settles Modestly Higher

The Switzerland market closed modestly higher on Wednesday after staying firm right through the day's session, thanks to fairly strong buying at several counters. The benchmark SMI closed up by 46.23 points or 0.38% at 12,207.12. The index moved between 12,166.23 and 12,226.36 during the session.
RTTNews | 3s 43 dakika önce
Japanese Market Notably Higher

Japanese Market Notably Higher

The Japanese market is trading notably higher on Thursday after opening in the red, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 42,650 level, with gains in index heavyweights, automakers and financial stocks.
RTTNews | 3s 51 dakika önce