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DAX hits 2-year low

By Jeff Davies

German benchmark index the DAX fell to its lowest point since December 8, 2016, as markets across the globe react to developments in trade relations, as well as the latest threat to the progress in trade talks between Washington and Beijing – the arrest of Huawei’s CFO in Canada. Asian stocks recorded sharp losses during Thursday’s session, with American futures pointing to a drop on open.

The DAX lost 1.53% at 8:38 am GMT, with automaker Daimler as the worst performers, down 3.54%. Meanwhile, French index CAC 40 dropped 1.59% at 8:28 am GMT, the lowest point since February 28, 2017. Business consulting firm Capgemini led the losses, with a 6.23% drop.

The euro retracted 0.13% against the American dollar, buying $1.13313 at 8:40 am GMT.

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