DAX slides over 170 points on Wall Street drop

Thursday, 09. May 2019 16:08

Germany's DAX fell over 170 points on Thursday following a big slump in Wall Street stock value as the United States and China trade negotiations seem to stall. Additionally, US President Donald Trump was expected to delay a decision on whether to impose tariffs on cars and auto parts from the European Union due next week.

The DAX was 1.48% down at 4:11 pm CET. Automotive manufacturing company Continental AG and Allianz SE drove the stocks down, sliding 5.97% and 4.99% at 4:11 pm CET respectively.

Meanwhile, in London, the FTSE 100 dropped 0.69% at the same time, while the CAC 40 traded 0.73% lower. The euro traded 0.45% higher against the dollar, to change hands at $1.12422 at 4:12 pm CET, while the pound increased 0.06% to $1.30132 a minute later.

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Breaking the News / MD