FRANKFURT, March 4 (Xinhua) -- Germany's benchmark DAX index tumbled more than 800 points on Tuesday, reversing gains from its record high on Monday, as escalating tariff tensions weighed on investor sentiment.

The index opened 1.27 percent lower at 22,852.72 points on the Frankfurt Stock Exchange and remained in negative territory throughout the session. It briefly fell below 22,400 points at its intraday low, moving further away from the 23,000 mark.

On Monday, the DAX had reached a record high of 23,307.97 points before closing at an all-time high of 23,147.02 points, driven by strong performances in defense and automotive stocks.

While defense stocks remained in demand on Tuesday, concerns over new U.S. tariffs weighed heavily on the market.

Adding to market jitters, Canadian Prime Minister Justin Trudeau said Monday that Canada will impose 25-percent tariffs on 155 billion Canadian dollars (107 billion U.S. dollars) worth of U.S. goods. This came after U.S. President Donald Trump told reporters that 25-percent tariffs on Canadian and Mexican imports would take effect on Tuesday. Enditem

Related

Go to Forum >>0 Comment(s)