German stocks tumbled on Friday amid heightened geopolitical tensions after Russia took control of Europe’s biggest nuclear power plant.
The benchmark DAX fell 263 points, or 1.9 percent, to 13,435 after falling 2.2 percent in the previous session.
Cyclical stocks were among the worst hit, with banks Commerzbank and Deutsche Bank falling round 4 percent.
Germany’s exports and imports declined unexpectedly in January, data published by Destatis revealed earlier in the day.
Exports were down 2.8 percent month-on-month, reversing a 1.2 percent rise in December. Shipments were expected to climb 1.0 percent.
Likewise, imports decreased 4.2 percent, in contrast to the 4 percent increase a month ago. Economists had forecast a monthly growth of 2.0 percent.
On a yearly basis, exports growth slowed to 11.0 percent from 15.5 percent in December. Similarly, growth in imports eased to 25.6 percent from 28.1 percent a month ago.
Market Analysis
DAX Tumbles As Russian Forces Seize Zaporizhzhia Plant
2022-03-04 08:52:23
