DAX Down Sharply As Trade Concerns, Middle East Tensions Hurt Sentiment
(RTTNews) - German stocks are notably lower on Thursday, weighed down by trade tensions and escalating tensions in the Middle East.
Amid a lack of specifics in the much talked about framework agreement, it is feared that the U.S.-China trade tensions may not subside any significantly for now.
Meanwhile, U.S. President Donald Trump expressed diminished confidence in reaching a nuclear deal with Iran, emphasizing that Iran must not acquire nuclear weapons.
There is more negative news on the geopolitical front, with the U.S. initiating a partial evacuation of its embassy in Iraq and authorizing voluntary departures from Bahrain and Kuwait, citing heightened security concerns.
The benchmark DAX was down 300.79 points or 1.25% at 23,675.32 a few minutes ago.
Vonovia is down 2.3%. MTU Aero Engines is down nearly 2%, while Rheinmetall, Hannover Rueck, Sartorius, Mercedes-Benz, Allianz, Siemens Energy and Deutsche Bank are lower by 1.5 to 1.8%.
BMW, Deutsche Telekom, Porsche Automobil Holding, Daimler Truck Holding, Adidas, Volkswagen, Siemens and Munich RE are also notably lower.
Continental is gaining nearly 1%. Fresenius Medical Care, E.ON and Fresenius are up with modest gains.
Euro Higher Against Majors
TSX Down Marginally In Lackluster Trade
Swiss Market Ends On Firm Note
European Stocks Close Mixed After Cautious Session
U.S. Business Inventories Rise In Line With Estimates In June
U.S. Consumer Sentiment Unexpectedly Deteriorates In August
U.S. Industrial Production Pulls Back Slightly In July
