FX.co ★ DAX Futures Slip 2%

Frankfurt's DAX futures experienced a notable decline, dropping 2% to 21,950 on Thursday, marking the lowest level observed in nearly two months. This downturn can be attributed to a cautious market sentiment following the imposition of substantial U.S. tariffs. U.S. President Donald Trump announced a baseline duty of 10% on all imports, alongside a 20% levy specifically targeting European goods. Additionally, an immediate 25% tariff was placed on imported vehicles, sparking apprehension about the repercussions for Germany’s crucial automotive industry. Within the corporate sector, Continental AG’s shares fell by 0.5% after forecasting a 7% reduction in North American vehicle production. Concurrently, Deutsche Bank's asset management division, DWS, encountered a €25 million penalty due to greenwashing allegations, leading to a more than 1% drop in its stock price. Investors are now focused on the upcoming Eurozone PMI data for further insights into the region's economic momentum.