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DAX Dives On Trade Worries

German stocks fell sharply on Wednesday on worries that tit-for-tat tariffs between the U.S. and China could hurt global growth.

Beijing vowed to take countermeasures after the U.S. proposed tariffs on an extra $200 billion of Chinese goods.

The benchmark DAX was down 159 points or 1.27 percent at 12,450 in opening deals after rising half a percent in the previous session.

Tariff worries weighed on the auto sector, with BMW, Daimler and Volkswagen losing 1-2 percent.

IT company Bechtle rallied 2.3 percent after announcing its intention to acquire the French IT provider Inmac Wstore S.A.S.

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