German stocks declined on Tuesday amid worries about wider restrictions in Beijing and signs that the European Central Bank is likely to start raising interest rates in July and exit sub-zero territory by the end of September.
Snapchat parent Snap warned of deteriorating macroeconomic trends, raising fresh worries over the state of the global economy.
Meanwhile, Germany’s May flash composite PMI, which comprises both the services and manufacturing sectors, nudged up to 54.6 from 54.3 in April.
The benchmark DAX dipped 150 points, or 1.1 percent, to 14,026 after rising 1.4 percent in the previous session.
Freenet AG rose about 1 percent. The telecom firm said that it has prematurely extended the existing sales partnership with Media-Saturn Deutschland GmbH until 2027.
Siemens Energy slipped half a percent after announcing a new group structure.
Market Analysis
DAX Slides On Growth Worries
2022-05-24 09:05:28
