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DAX Slides As Yields Rise On Economic Optimism

German stocks fell on Tuesday as U.S. Treasury yields and the German 10-year bund yield rose on optimism that a global economic recovery is gathering pace, thanks to successful vaccine rollouts in much of the developed world.

EU officials on Monday proposed easing restrictions on visiting the 27-nation bloc as vaccination campaigns across the continent gather speed.

Federal Reserve Chairman Jerome Powell said that U.S. economic outlook has clearly brightened amid faster vaccination rates and fiscal stimulus.

"While the recovery is gathering strength, it has been slower for those in lower-paid jobs," Powell said at a National Community Reinvestment Coalition event on Monday.

The benchmark DAX dropped 97 points, or 0.6 percent, to 15,139 after gaining 0.7 percent the previous day.

Chipmaker Infineon tumbled 4.4 percent after it warned of continued bottlenecks in a manufacturing supply chain that's running at "full speed."

Remote connectivity software company TeamViewer slumped 7.7 percent despite reporting first-quarter orders and core profit ahead of expectations.

Online food ordering company Delivery Hero declined 1.3 percent.

Real Estate firm Vonovia gave up 1.3 percent despite confirming its FY21 outlook.

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