(RTTNews) - German stocks drifted lower on Monday amid U.S. rate hike worries and heightened tensions between the U.S. and China after the U.S. military on Saturday shot down a suspected Chinese spy balloon off the Carolina coast.
Investors ignored data showing that German factory orders bounced back in December, driven by large-scale orders.
Factory orders rose 3.2 percent in December compared with a 4.4 percent fall in November on a price-adjusted basis, the statistics office Destatis said.
The benchmark DAX was down 88 points, or 0.6 percent, at 15,387 after declining 0.2 percent on Friday.
Aurubis shares plunged more than 6 percent. The copper producer reported that its first quarter net income dropped 81 percent to 57 million euros from 301 million euros in the same quarter last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
