DAX tumbles 370 pts at close as data disappoints

Tuesday, 05. July 2022 17:36

Major European stocks closed deep in the red territory on Tuesday, with investors sharing concerns related to the latest batch of economic data that signaled activity slowdown over the past month.

As the euro reached a new low against the dollar, Germany hinted it could intervene in the pricing of Russian gas at some point in the future. The DAX sank 2.91% or 371 points at the closing bell, with the euro sliding 1.71% against the dollar to sell for 1.02445 at 5:34 pm CET.

The FTSE 100 declined by 2.95% or 213 points after a report from earlier today revealed Norway's gas deliveries to the United Kingdom could be halted this weekend. The pound dropped 1.56% against the greenback to sell for 1.19171 at 5:35 pm CET. The CAC 40 tumbled 2.82% or 168 points.

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