DAX Leads Losses in Europe
On Thursday, Frankfurt's DAX experienced a decline of approximately 0.8%, closing at 22,664, marking its lowest level since mid-March. This drop caused the index to underperform compared to its peers, following President Trump's announcement of a 25% tariff on all car imports. The DAX index, with its significant representation of automotive companies, was notably impacted by this news. Leading the downturn were automotive stocks, as Mercedes-Benz AG, Porsche AG, and BMW each saw declines of 2.6%, with Volkswagen also falling by 1.5%. Additional apprehension arose from potential tariffs that could affect pharmaceutical and technology sectors, putting pressure on healthcare and tech stocks. As a result, Infineon Technologies saw a decrease of 3%, while Fresenius Medical Care and Siemens Healthineers slipped by 0.6% and 0.8% respectively.
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