German stocks tumbled on Tuesday after the outbreak of Covid in some parts of China led to lockdowns in that country.
Anxiety over inflation fears also added to the gloom ahead of a key U.S. Federal Reserve meeting this week.
The benchmark DAX dropped 260 points, or 1.9 percent, to 13,668 after rallying 2.2 percent the previous day.
Travel & leisure stocks were moving lower, with airline Lufthansa falling 2.7 percent.
Infineon Technologies fell 3.5 percent in the technology sector.
Utility RWE dropped 1.7 percent after flagging major business risks.
Wacker Chemie jumped 3.2 percent. The chemicals company reported that its fiscal 2021 net income surged to 828 million euros from last year’s 202 million euros.
Volkswagen lost nearly 3 percent after saying it had sold 2 million fewer cars than planned last year due to the semiconductor shortage.
DAX Dips On China Covid Concerns
2022-03-15 09:11:44
