German Stocks Tumble; DAX Down 1.73%
(RTTNews) - German stocks declined sharply Friday morning as investors assessed the potential impact of the Democratic Party's sweeping victory in the US midterm elections on tariffs, Middle East conflict and the impact on AI infrastructure development.
The benchmark DAX was down 454.50 points or 1.73% at 25,875.45 a little while ago.
Zalando, Hannover RE, Deutsche Post, Munich RE, Rheinmetall and Bayer lost 3%-3.7%.
Adidas, BASF, Siemens Healthineers, Allianz, Merck, SAP, Deutsche Boerse, Henkel,Daimler Truck Holding, Beiersdorf, Symrise, Mercedes-Benz, Deutsche Telekom, Fresenius Medical Care, Brenntag and Fresenius drifted down 1%-2.7%.
Daimler Truck Holding shed about 2.1%, despite a 73% jump in Q3 adjusted operating profit and reaffirmed full-year guidance, as nine-month results remained below year-ago levels.
Wind turbine maker Nordex dropped 1.1% despite reporting strong performance for Q3 and confirming an increase to its full-year 2026 EBITDA margin guidance.
Infineon Technologies climbed nearly 3.5%. Siemens Energy moved up 2.75%, whileHochtief and RWE gained 1.6% and 1.1%, respectively.
In economic news, Germany's industrial production expanded for the second straight month in September amid significant output growth in the automotive industry, official data showed.
Industrial output expanded 0.7% on a monthly basis, slower than the revised 1% rebound in August, Destatis said. Meanwhile, economists had expected a flat change.
On a yearly basis, industrial production rose 0.4% in September, slower than the 0.7% increase in the prior month.
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