The DAX index slumps today after the US ISM manufacturing report, published yesterday, came in at 47.8 the lowest level in ten years. The biggest drag on the ISM was new export orders, and this is important for the export-oriented German economy.
As a response, investors have been dumping equities as it appears that the world economy is slowing. Earlier this week the Chinese manufacturing PMI report showed a contraction in Chinese manufacturing while European PMI’s yesterday also showed that manufacturing in the old continent is also contracting.
Top losers in DAX is Covestro AG -4.22, adidas AG -2.64%, Thyssenkrupp AG -1.63%, Continental AG -1.75%, and Infineon -1.72%.