DAX Tumbles On China Selloff

German stocks fell sharply on Tuesday as a rout in Chinese shares deepened.

Chinese and Hong Kong markets extended heavy losses to hit multi-month closing lows earlier today as a crackdown on a wider array of companies continued to dampen risk sentiment.

China tightened regulations for food delivery platforms, ensuring minimum wages.

Beijing also tightened grip on the education tech sector, banning tutoring for profit in core school subjects during the academic year.

The benchmark DAX fell 141 points, or 0.9 percent, to 15,477 after declining 0.3 percent the previous day.

Cyclicals led losses, with lender Commerzbank tumbling as much as 3.5 percent.

Automakers BMW, Daimler and Volkswagen were down 1-2 percent.

Kion Group, a supplier of forklift trucks and warehouse equipment, edged down slightly despite reporting a rise in first-half preliminary net income and lifting FY outlook.

A two-day policy meeting of the U.S. Federal Reserve begins later today, with investors seeking clues on the timing of stimulus tapering.

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