{"id":58245,"date":"2025-04-03T08:33:16","date_gmt":"2025-04-03T08:33:16","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/04\/03\/dax-down-sharply-despite-coming-off-early-lows\/"},"modified":"2025-04-03T08:33:16","modified_gmt":"2025-04-03T08:33:16","slug":"dax-down-sharply-despite-coming-off-early-lows","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/04\/03\/dax-down-sharply-despite-coming-off-early-lows\/","title":{"rendered":"DAX Down Sharply Despite Coming Off Early Lows"},"content":{"rendered":"
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German stocks are down sharply Thursday morning due to heavy selling almost across the board as investors react to the U.S. government’s announcement of “reciprocal tariffs.”<\/p>\n

U.S. President Donald Trump announced a 10% baseline on all US imports and a 20% rate for goods from the European Union, with a steeper 25% tariff on imported cars set to take effect immediately.<\/p>\n

The much steeper-than-expected tariffs on US trade partners, has heightened concerns over a global trade war that could destabilize major economies. <\/p>\n

President of the European Commission, Ursula von der Leyen posted on X that the universal tariffs announced by the U.S. are a major blow to businesses and consumers worldwide. “Europe is prepared to respond. We’ll always protect our interests and values. We’re also ready to engage,” she wrote.<\/p>\n

Some Asian countries such as China, Japan and South Korea have reportedly agreed to jointly respond to the U.S. tariffs.<\/p>\n

The benchmark DAX, which plunged nearly 570 points to a more than 2-month low of 21,805.77 in early trades, was down 300.39 points or 1.34% at 22,074.71 a little while ago.<\/p>\n

Adidas, the biggest loser in the index, is down nearly 10%, as fashion and sportswear industries are likely to be severely hit by steep tariffs.<\/p>\n

Commerzbank is declining 5.7% and Deutsche Bank is down 4.3%. Deutsche Post is lower by about 4.1%.<\/p>\n

Siemens, Siemens Healthineers, MTU Aero Engines, Infineon Technologies, BASF, Heidelberg Materials and SAP are down 2.3 to 4%.<\/p>\n

Porsche Automobil Holding, Continental, Symrise and Allianz are also notably lower.<\/p>\n

Vonovia is up nearly 4%. E.ON, Beiersdorf, Fresenius Medical Care, Qiagen, Henkel and Rheinmetall are gaining 1.3 to 2%. <\/p>\n

Hannover Rueck, Deutsche Telekom, BMW, Deutsche Boerse, RWE and Bayer are up with moderate gains.<\/p>\n

Data from S&P Global said the HCOB Germany Composite PMI for March was revised higher to 51.3 from a preliminary of 50.9 and compared to 50.4 in February. The reading marked the strongest expansion in the private sector in ten months. <\/p>\n

The manufacturing PMI came in with a score of 48.3, compared to 46.5 in February, while the service sector PMI moderated slightly to 50.9 in March from 51.1 a month earlier. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n