German stock fell on Tuesday as investors fretted about issues including inflation, pressures on quarterly earnings and China Evergrande Group’s debt crisis.
The benchmark DAX dropped 109 points, or 0.72 percent, to 15,090 after ending marginally lower in the previous session.
Banks traded mixed, with Deutsche Bank falling over 1 percent.
Automakers fell broadly, with Daimler down 1.5 percent and Volkswagen losing 2.1 percent.
Gerresheimer AG shares surged 3.6 percent. The company reported higher earnings for the third quarter, reflecting strong revenue growth.
In economic releases, German wholesale prices grew 13.2 percent annually in September, following August’s 12.3 percent increase, Destatis reported.
The last time there was a higher increase than in the same month of the previous year was in June 1974, when wholesale prices rose 13.3 percent in the wake of the first oil crisis.
On a monthly basis, wholesale price inflation rose to 0.8 percent from 0.5 percent in August, data showed.
DAX Dips On Inflation Concerns
2021-10-12 08:58:56
