German stocks fell on Friday as benchmark U.S. Treasury yield rose past 1.7 percent, raising concerns about inflation and stock valuations.
The benchmark DAX dropped 59 points, or 0.4 percent, to 14,716 after rallying 1.2 percent the previous day.
Banks Commerzbank and Deutsche Bank fell 1 percent and half a percent, respectively while automaker BMW lost 2.3 percent and Daimler gave up 1.5 percent.
In economic releases, German producer prices rose for the third straight month in February, data from Destatis showed.
The producer price index increased 1.9 percent year-on-year in February, following a 0.9 percent rise in January.
Excluding energy, producer prices rose 1.4 percent annually in February. Energy prices grew 3.7 percent.
On a monthly basis, producer prices rose 0.7 percent in February, after a 1.4 percent increase in the previous month.
Market Analysis
DAX Slides On Inflation Concerns
2021-03-19 09:05:15
