DAX slides over 2% on Middle East worries

Monday, 06. January 2020 10:39

European markets extended losses on Monday with the DAX sliding over 2% amid fears of an impending armed conflict in the Middle East. Tensions in the region escalated after the US killed top Iranian military official Qassem Soleimani in Baghdad. Tehran then threatened to retaliate by attacking US targets in the Middle East and noted it will suspend more nuclear deal commitments.

The DAX dropped 2.04% at 10:38 am CET. The worst performer was Covestro, whose shares plummeted 6.21% at 10:41 am CET.

In London, the FTSE 100 fell 1.15% at 10:41 am CET with pharmaceuticals leading the losses. Meanwhile, France's CAC 40 sank 1.34% at the same time as STMicroelectronics plunged 4.56% at 10:37 am CET.

The euro gained 0.24% against the dollar to sell for 1.11886 at 10:45 am CET.

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Breaking the News / NP