DAX Down More Than 1% Despite Paring Some Early Losses
(RTTNews) - German stock market's benchmark index DAX is sliding for a fourth straight session, falling more than 1% on Tuesday, amid rising concerns about high valuations of Artificial Intelligence-related stocks, and uncertainty surrounding the upcoming policy moves of the Federal Reserve due to a lack of some crucial macro economic data.
Investors are wary of picking up stocks as they await September U.S. jobs data, and Nvidia's results for cues.
Stocks from across several sectors are down in negative territory. The DAX, which tumbled to 23,230.19 earlier in the session, was down 238.65 points or 1.01% at 23,340.70 a little while ago.
Only three stocks among the DAX constituents are up in positive territory at present. Rheinmetall is gaining 3% after raising its 2030 sales outlook to about €50 billion, alongside a new corporate structure and new strategy for its US business.
Deutsche Boerse is up 0.6% and Zalando is up marginally.
Siemens Energy is down more than 4%. Deutsche Bank and Merck are down 3.6% and 3.4%, respectively.
Daimler Truck Holding, Infineon Technologies, Commerzbank, Fresenius, Mercedes-Benz and Bayer are down 2.2 to 2.8%.
BMW, Adidas, Deutsche Telekom, Volkswagen, Continental, Heidelberg Materials, Porsche Automobil Holding, MTU Aero Engines and Fresenius Medical Care are also notably lower.
