DAX Extends Losses After Monday's Selloff

(RTTNews) - The DAX benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange continued to trade on a negative note amidst a bearish global market sentiment driven by tariff woes and AI anxieties. Earnings updates by constituents of the index also swayed market sentiment.

The DAX benchmark has shed 0.10 percent on Tuesday to trade at 24,962.60 versus 24,986.58 at the previous close. The day's trading ranged between a high of 24,979.70 and a low of 24,878.10.

Despite Monday's losses that exceeded 1 percent and the day's losses, the index is holding on to gains of 11.3 percent over the past year. The index had touched an all-time high of 25,507.79 on January 13.

In the 40-scrip index, 18 scrips are trading in the overnight red zone.

E. ON topped with gains of 2.6 percent. Continental, RWE, Symrise, Vonovia, Hannover Ruck, have all rallied more than 1.5 percent.

MTU Aero Engines led losses with a decline of 6.7 percent followed by Fresenius Medical Care that declined 6.2 percent. SAP as well as Deutsche Bank have suffered losses of close to 1.5 percent.

Despite fears of the dollar losing its safe haven status, the greenback remains resilient. The six-currency Dollar Index has firmed up to 97.82 from 97.71 on Monday. The EUR/USD pair has edged up 0.03 percent to 1.1788 after ranging between 1.1797 and 1.1768. The EUR/GBP pair is trading 0.08 percent lower at 0.8731. Amidst the yen's plunge, attributed to reports of Prime Minister Takaichi expressing reservations about further rate hikes by Bank of Japan, the EUR/JPY pair has rallied 0.81 percent to 183.73.

Though the tariff uncertainty and the potential impact on the fiscal position have pushed yields on U.S. treasuries higher, bond yields elsewhere are on a broadly softening trend. In tandem, ten-year German bond yields have declined 0.59 percent overnight to 2.7000 percent. The yield which was at 2.7160 percent at the previous close ranged between 2.7109 percent and 2.6999 percent in the day's trading.