German stocks traded lower on Wednesday as the initial euphoria over China’s sweeping stimulus measures faded.
Earlier today, Sweden’s central bank cut its key interest rate by a quarter point and said it envisioned another two cuts this year.
The benchmark DAX was down 77 points, or 0.4 percent, at 18,920 after climbing 0.8 percent in the previous session.
The dollar weakened further, adding to the previous session’s losses after a survey showed U.S. consumer confidence unexpectedly fell in September.
Tech stocks fell, with SAP tumbling 3.5 percent after reports that the software developer is being probed by U.S. officials for alleged price-fixing. Shares of Infineon Technologies were down 1.1 percent.
Lender Commerzbank rose 1.2 percent after appointing Bettina Orlopp as its new CEO.
DAX Dips As China Stimulus Euphoria Fades
2024-09-25 08:55:36
