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DAX Slides Ahead Of ECB Decision

German stocks were moving lower on Thursday as investors awaited the U.S. inflation report and the ECB's rate decision for directional cues.

It is feared that signs of unchecked inflation could prompt the U.S. Federal Reserve to start tapering its massive stimulus.

Markets expect the European Central Bank to maintain its current asset purchase program and avoid any tapering talk. The main refi rate is expected to be retained at a record low zero percent.

The outcome of the governing council meeting of the ECB is due at 7.45 am ET. After the meeting, ECB Chief Christine Lagarde holds the press conference in Frankfurt at 8.30 am ET.

The benchmark DAX dropped 33 points, or 0.2 percent, to 15,547 after closing 0.4 percent lower the previous day.

Automakers slipped, with BMW, Daimler and Volkswagen losing 1-2 percent.

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