German stocks drifted lower on Wednesday amid lingering concerns surrounding inflation, central bank policies and the ongoing conflict in Ukraine.
Prospects for peace in Ukraine seem to fade as Russian President Vladimir Putin vowed to continue the war and U.S. President Joe Biden has called Russia’s invasion of Ukraine a ‘genocide,’ a term his administration has been avoiding.
The benchmark DAX dropped 60 points, or 0.4 percent, to 14,065 after losing half a percent the previous day.
Heavyweight banks and automakers were narrowly mixed.
Deutsche Telekom shares were up nearly 1 percent on a Bloomberg report that the telecommunications company paid $2.4 billion to SoftBank Group Corp. to increase its stake in T-Mobile US Inc.
DAX Dips As Ukraine War Intensifies
2022-04-13 09:09:13
