DAX Drops As China's Covid Unrest Engulfs Global Market Sentiment

The German stock market benchmark DAX dropped close to 1 percent on Monday, as investors worldwide reacted to the unprecedented protests in China against the strict Covid curbs.

The forty-scrip DAX index is currently trading at 14,407.60, down 0.92 percent on an overnight basis. The day's trading has been within the range of 14,379.83 and 14,514.98.

Only 5 scrips of the 40-scrip index are trading in an overnight positive territory. Fresenius is the top gainer with a 1.3 percent uptick.

Specialty chemicals business Brenntag dropped around 8 percent after Friday's announcement that it had conducted takeover talks with U.S. rival Univar. Airbus and Vonovia have both declined more than 3 percent.

The EUR/USD pair is at 1.0472, surging 0.74 percent overnight whilst the US Dollar Index weakened 0.34 percent to 105.60.

The ten-year bond yield has increased 0.2 percent to 1.974%, versus 1.97% percent at the previous close.

The pan-European STOXX 600 is currently trading at 436.86, down 0.88 percent on an overnight basis.

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