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DAX Extends Losses Amid Global Selloff

German stocks fell heavily on Thursday, adding to steep losses in the previous session, as fears of a slowing global economy and rising interest rates sparked a global sell-off.

The benchmark DAX was down 94 points or 0.8 percent at 11,619 in opening deals after declining as much as 2.2 percent in the previous session.

Luxury carmaker BMW dropped 1 percent after it announced a plan to take control of its China joint venture.

GEA Group, a technology provider for food processing industry, slumped 4.4 percent despite reporting a 12 percent rise in preliminary operating EBITDA for the third quarter.

Sugar producer Suedzucker rose slightly despite reporting lower operating result for the second quarter.

Dialog Semiconductor soared 26 percent. The company has reached an agreement with Apple Inc. to license certain of its power management technologies, transfer certain of its assets and over 300 employees to Apple to support chip research and development.

Bayer rallied 4.5 percent after receiving a tentative ruling for a new trial on the $250 million in punitive damages in U.S. weed-killer case.

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