DAX Extends Losses As Investors Weigh Trump Win

(RTTNews) - German stocks edged lower on Wednesday as Donald Trump's pick of Senator JD Vance as his running mate hardened the Republican party's shift toward trade protectionism.

Trump is promising to escalate the trade war with 60 percent tariffs on goods from China and a 10 percent global tariff.

The benchmark DAX dipped 26 points, or 0.3 percent, to 18,472 after losing 0.4 percent in the previous session.

Allianz dropped half a percent after the insurer agreed to buy a majority stake in Singapore's Income Insurance for about $1.6 billion.

Adidas jumped nearly 4 percent. The sportswear maker raised its full-year guidance after reporting a 11 percent increase in revenue during second quarterly of FY24.