(RTTNews) – German stocks are down in negative territory on Tuesday, extending losses from the previous session, due to geopolitical concerns and uncertainty about tariffs.
French political risks also appear to be keeping investors on edge. French bonds tumbled as Prime Minister Francois Bayrou called a confidence vote for Sept. 8 over his plans for sweeping budget cuts.
Officials from France’s main opposition parties said they would not back the government, raising the risk of French political instability.
Meanwhile, in the U.S., President Donald Trump took the unprecedented action of removing Federal Reserve Governor Lisa Cook, raising concerns over the Federal Reserve’s independence.
Germany’s benchmark DAX was down 75.93 points or 0.31% at 24,185.66 a few minutes ago.
Commerzbank is down nearly 6% following a rating downgrade by Bank of America. The stock has been downgraded to “underperform” as the analyst feels the valuation is exaggerated and sees no upside potential from the current level.
Deutsche Bank is down nealry 2%, while Deutsche Post, Rheinmetall and Hannover Rueck are lower by 1.3 to 1.7%.
Allianz, Munich RE, Zalando, Heidelberg Materials and Symrise are down 0.8 to 1.2%. Infineon Technologies, Deutsche Boerse and MTU Aero Engines are also down in negative territory.
Bayer is gaining 1.8% and Sartorius is up nearly 1.5%. Continental, BASF, Deutsche Telekom, Beiersdorf, E.ON, Volkswagen and BMW are advancing 0.5 to 1.2%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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