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DAX Falls In Cautious Trade

German stocks fell in cautious trade on Tuesday, as investors kept an eye on bond yields and awaited testimony from Federal Reserve Chair Jerome Powell later in the day where most analysts expect Powell to reiterate the Fed's commitment to maintain a dovish policy.

The German DAX dropped 70 points, or half a percent, to 13,879 after losing 0.3 percent the previous day.

Healthcare group Fresenius gained 0.6 percent after confirming its 2021 guidance as well as targets until 2023.

Cement-maker HeidelbergCement gave up more than 2 percent after its revenue fell in the fourth quarter of last year.

Travel stocks were gaining ground, with Lufthansa surging 5 percent and TUI AG gaining nearly 7 percent.

Chemicals group Covestro edged up slightly after announcing it would set dividend payout on a new basis.

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