DAX Slips Into Red On Recession Woes
(RTTNews) - German stocks fell sharply on Wednesday as the latest data showed a narrowing in the country's surplus and a weakening services sector.
The trade surplus shrank to 1.2 billion euros in August in a possible sign of a slowdown in external demand for goods.
Services sector activity fell slightly more than initially expected in September, adding to signs that Europe's biggest economy is heading for a recession.
The benchmark DAX dropped 129 points, or a little over 1 percent, to 12,541 after climbing 3.8 percent in the previous session.
Nordex SE shares were 2 percent higher. Exilion Tuuli Ky, Finland's largest wind power producer, has selected Nordex to supply and install 17 N163/5.X turbines for the Isokangas and Palokangas wind farms. The orders include a Premium Service for the turbines covering a period of 30 years.
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