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DAX Edges Lower As Virus Worries Loom

German stocks edged lower on Tuesday as fears surrounding a surge in coronavirus cases around the world offset encouraging factory activity data from China.

World Health Organization chief Tedros Adhanom Ghebreyesu warned Monday that "the worst is yet to come."

Federal Reserve Chair Jerome Powell has welcomed the return of economic activity, but cautioned the outlook for the United States is still "extraordinarily uncertain".

The benchmark DAX dropped 33 points, or 0.27 percent, to 12,198 after rallying 1.2 percent in the previous session.

Infineon Technologies rose about half a percent and Dialog Semiconductor rallied 2 percent after an upbeat revenue forecast from U.S. firm Micron Technology.

Banks fell, with Commerzbank declining 1 percent and Deutsche Bank losing 1.6 percent.

Automakers BMW, Daimler and Volkswagen were down between 0.8 percent and 1.5 percent.

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