DAX Falls As Automakers Decline On Tariff Concerns
(RTTNews) - German stocks fell notably on Tuesday, with automakers suffering heavy losses after U.S. President-elect Donald Trump vowed additional tariffs on China as well as U.S. neighbors Canada and Mexico, raising fears of a renewed trade war.
Automakers BMW, Mercedes Benz and Volkswagen were down 2-3 percent while the benchmark DAX was down 125 points, or 0.6 percent, at 19,280 after rising 0.4 percent in the previous session.
Eurozone government bond yields rose slightly ahead of upcoming inflation data that may influence the European Central Bank's policy direction.
Heightened geopolitical tensions and rising political tensions over the French budget also added to the economic uncertainties.
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CAC 40 Slides As Le Pen Threatens To Topple Government Over Budget
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Asian Shares Decline As Trade War Concerns Resurface
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Commodity Currencies Drop After Trump's New Tariff Threats
The commodity currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Tuesday, after U.S. President-elect Donald Trump announced a 10 percent additional tariff on all Chinese goods and a 25 percent tariff on imports from Mexico and Canada, raising concerns over global trade tensions.
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Pound Falls Against Majors
The British pound weakened against other major currencies in the Asian session on Tuesday.
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