DAX Slides As Tech And Retail Stocks Slump
(RTTNews) - German stocks were sharply lower on Friday as technology stocks fell on signs of rising memory costs.
The benchmark DAX was down 231 points, or 0.93 percent, at 24,763 after rallying 1 percent in the previous session. Semiconductor companies were moving lower, with Infineon Technologies tumbling 3.6 percent amid uncertainty surrounding the global technology sector.
Automakers BMW and Mercedes Benz fell around 1 percent each as investors assessed the potential implications of higher memory chip costs on the industry.
Online fashion retailer Zalando plunged 5.2 percent after Germany's financial regulator, BaFin, launched an investigation into the company's 2025 financial statements, alleging that a transaction related to the acquisitions of About You might have been omitted.
