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DAX Slides Ahead Of ECB Meeting

German stocks declined on Thursday as investors continued to fret over the spread of a deadly virus that has spread from Wuhan to several Chinese provinces.

Market participants also braced for the European Central Bank's first policy decision of the year, where the bank's president, Christine Lagarde, is expected to launch a broad review of policy that is likely to see her redefine the central bank's main goal.

The benchmark DAX was down 82 points, or 0.6 percent, at 13,434 after losing 0.3 percent the previous day.

Construction major Hochtief slumped 9 percent. The company announced that it plans to recognise a one-off, post-tax, impact of around 0.8 billion euros in fiscal 2019 as part of the plan by its 72.8 percent-owned unit CIMIC Group to exit the Middle East region.

Automakers BMW and Daimler were down around half a percent after U.S. President Donald Trump renewed his threat to put hefty tariffs on European cars if the bloc doesn't agree to a trade deal.

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