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2025-08-01 16:07:35
[Germany's DAX Index Opens August with a Decline, Intensifying Trade Tensions Dragging the Market] ⑴ The Frankfurt DAX Index fell over 1% on the first trading day of August, closing around 23,700 points, hitting a new low since July 1st. Escalating trade tensions have triggered widespread risk aversion in European markets. ⑵ The sell-off stemmed from US President Trump's announcement of additional tariffs on dozens of countries, which will take effect on August 7th. Due to the failure to reach a trade agreement with the White House, Canadian goods will face a 35% tariff, while EU imports will be subject to a 15% tariff. ⑶ Trump also sent a letter to 17 pharmaceutical companies, including US ones, demanding lower drug prices. ⑷ On the corporate front, Daimler Truck's stock price plummeted 7% after the company lowered its full-year outlook late Thursday, citing continued weakness in the North American market.
