German stocks tumbled on Thursday as investors fretted over the first U.S. case of the Omicron variant and the chances of quicker interest rate hikes in the United States.
The benchmark DAX fell 180 points, or 1.2 percent, to 15,293 after climbing 2.5 percent in the previous session.
Chipmaker Infineon Technologies lost 3 percent after reports that Apple told some of its parts suppliers that demand for iPhone 13 has slowed.
ThyssenKrupp rose half a percent. The industrial engineering and steel production company said in its update that despite persisting Covid-19 related headwinds and other hurdles, it expects a turnaround to profit during the current fiscal.
The Essen-headquartered company aims to report a net income of over 1 billion euros for the fiscal scheduled to end in September 2022, compared with a net loss of 25 million reported for the previous fiscal.
Market Analysis
DAX Slides Amid Omicron Fears
2021-12-02 09:02:43
