DAX Moderately Lower; Auto Stocks Lose Ground
(RTTNews) - The German stock market is down firmly in negative territory on Monday, weighed down by losses in auto and financial sectors. The mood is down across global markets following the Trump administration announcing sweeping changes to the H-1B visa regime.
Investors are awaiting a key US inflation reading and comments from Fed officials this week for clues on the Federal Reserve's rate trajectory. The benchmark DAX, which tumbled to to 23,421.99 earlier in the session, was down 153.93 points or 0.65% at 23,491.32 a little while ago.
Volkswagen is down 8% after the company adjusted its 2025 forecast. Porsche is down more than 9% after dialing back plans for its electric vehicle rollout due to weaker demand.
Mercedes-Benz is down nearly 3% and BMW is declining by about 2.7%. Continental and Daimler Truck Holding are down 1.6% and 1.5%, respectively.
Commerzbank is down more than 2%. Deutsche Telekom, BASF, Deutsche Post, Brenntag, Siemens, Infineon Technologies and Fresenius are down 0.7 to 1.6%.
MTU Aero Engines is gaining about 1.5%. Zalando, Qiagen, Rheinmetall, Symrise and Bayer are up 0.5 to 1.%.
The two new entrants to the DAX fold, Scout24 SE, and GEA Group are up 3.2% and 3.1%, respectively.
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