German stocks fell sharply on Wednesday as heavy Russian artillery and airstrikes continued to hit built-up areas, focused in the cities of Kharkiv, Kyiv, Mariupol and Chernihiv.
As the war between Russia and Ukraine entered seventh day, Russian armed forces have captured the southern Ukrainian city of Kherson, RIA news agency reported.
The invasion of Ukraine is causing a mass exodus of companies from Russia, with Airbus, Ford, Google, and, belatedly, Apple joining the list.
The benchmark DAX dropped 152 points, or 1.1 percent, to 13,753 after plunging 3.9 percent the previous day.
Banks extended recent losses on receding bets of interest rate hikes from the European Central Bank. Commerzbank lost 2 percent and Deutsche Bank tumbled 3.5 percent.
Automakers BMW and Volkswagen lost 3-4 percent.
Market Analysis
DAX Declines As Russia Ukraine War Intensifies
2022-03-02 09:21:34
