FX.co ★ DAX Tumbles on Sweeping US Tariffs

Frankfurt's DAX index saw a significant drop of over 2% on Thursday, sinking to its lowest point in nearly two months. This downturn was a reaction to the comprehensive tariff policy introduced by US President Donald Trump. The new "reciprocal tariffs" stipulate a 10% general duty on all US imports, a 20% levy specifically targeting goods from the European Union, and an immediate implementation of a 25% tariff on imported vehicles. A majority of sectors witnessed substantial declines, with sportswear companies like Adidas and Puma bearing the brunt, each declining almost 9%. The US fashion and sportswear sectors are notably dependent on imports, sourcing 98% and 99% of their products, respectively, from international markets. Banks, technology companies, basic resources, and automotive stocks also experienced significant pressure.