German stocks traded lower on Tuesday ahead of the German August ZEW survey results due later in the day.
A cautious undertone prevailed as a raft of disappointing data from China stoked concerns over the shuttering economy.
The benchmark DAX dropped 103 points, or 0.7 percent, to 15,801 after rising half a percent in the previous session.
The euro remained on defensive mode ahead of U.S. retail sales data due later in the day and Wednesday’s release of the minutes from the Fed’s latest policy meeting.
Banks Commerzbank and Deutsche Bank fell around 1 percent each as bond yields across Europe jumped on data showing record U.K. wage growth in the three months to June.
Real estate investment company Deutsche EuroShop was down about 1 percent despite lifting its FFO per share forecast for the 2023 financial year.
Market Analysis
DAX Slides Ahead Of ZEW Statistics
2023-08-15 09:00:44
