DAX Tumbles As Banks Drag On Contagion Fears
(RTTNews) - German stocks plunged on Friday, as banks suffered heavy losses on concerns over the collapse of pro-crypto Silvergate bank coupled with the hawkish stance taken by the U.S. Federal Reserve.
Investors waited for the release of monthly U.S. jobs report later in the day that could reinforce expectations of a bigger rate hike later this month.
The benchmark DAX was down 263 points, or 1.7 percent, at 15,370 after ending flat with a positive bias the previous day.
Commerzbank shares plummeted 5 percent and Deutsche Bank lost about 8 percent after U.S. tech-industry lender SVB Financial Group launched a share sale to shore up its balance sheet due to declining deposits from startups struggling for funding.
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U.S. Dollar Weakens Amid Falling Yields
The U.S. dollar declined against its major counterparts in the New York session on Tuesday, as treasury yields fell and recent economic data suggested a slowdown in growth.
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5h 7min ago
Swiss Market Ends On Firm Note
Despite a slightly negative start, the Switzerland market closed on a firm note on Tuesday as stocks recovered swiftly and kept edging higher as the day progressed.
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6h 0min ago
European Stocks Close On Mixed Note
European stocks turned in a mixed performance on Tuesday with investors reacting to earnings updates and other corporate news. U.S. President Donald Trump's confirmation about tariffs on Canada and Mexico from early March, and threats about reciprocal tariffs on Chinese investments in the U.S. weighed.
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6h 17min ago
U.S. Consumer Confidence Tumbles Much More Than Expected In February
A report released by the Conference Board on Tuesday showed a significant deterioration by U.S. consumer confidence in the month of February. The Conference Board said its consumer confidence index tumbled to 98.3 in February from an upwardly revised 105.3 in January. Economists had expected the consumer confidence index to dip to 103.0 from the 104.1 originally reported for the previous month.
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9h 38min ago
Bay Street Likely To Open Higher, But Tariff Jitters, Weak Commodities May Weigh
Canadian shares may open higher Tuesday morning on bank earnings, but weak commodities and tariff jitters could limit market's upside.
U.S. President Donald Trump stated on Monday tariffs on Canadian and Mexican imports remain "on time and on schedule," raising fears of a prolonged trade war.
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11h 24min ago
Home Depot Q4 Beats Market; Sees Weak Earnings, Higher Sales In FY25; Stock Drops
Home Depot Inc., while reporting higher fourth-quarter results above market estimates, on Tuesday issed fiscal 2025 guidance, expecting weak earnings, but higher sales and comparable sales. Further, the home improvement retailer announced higher quarterly dividend. In pre-market activity on the NYSE, Home Depot shares were losing around 2.4 percent.
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13h 13min ago
Yen Rises On BoJ Rate Hike Bets
The Japanese yen strengthened against other major currencies in the European session on Tuesday amid rising speculation that the Bank of Japan (BoJ) will hike interest rates further.
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13h 14min ago
FTSE Advances; Smith & Nephew Climb Higher On Results
U.K. stocks are modestly higher Tuesday morning with investors digesting some earnings updates and other corporate news while continuing to follow the developments in Germany where a new government is set to take charge soon. Worries about fresh U.S. tariffs and uncertainty about the Trump administration's economic policies limit market's upside.
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14h 21min ago
