BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks tumbled on Thursday as trade worries persisted and voting got underway in European elections.
U.K. chip designer ARM suspended business with Huawei in order to comply with a United States blockade of the company, adding to fears of a tech cold war.
The benchmark DAX was down 187 points or 1.54 percent at 11,981 in opening deals after rising 0.2 percent in the previous session.
Automaker Daimler slumped 7 percent and lender Commerzbank fell about 1 percent on going ex-dividend.
Deutsche Bank tumbled 3 percent on saying it has found a glitch in computer systems that retroactively scan corporate clients' transactions for suspicious activity.
Deutsche Börse shed 0.9 percent despite confirming its 'Roadmap 2020' growth targets.
In economic releases, German GDP grew 0.4 percent sequentially in the first quarter, after staying flat in the fourth quarter and contracting 0.2 percent in the third quarter of 2018, detailed results from Destatis showed. The rate matched the initial estimate published on May 15.
Germany's private sector expanded at a moderate pace in May, while the headline IFO business climate index dropped to 97.9 in May from 99.2 last month.
The euro area private sector expanded in May but the pace of growth remained subdued, survey data from IHS Markit showed.
The composite output index rose marginally to 51.6 from 51.5 in April. The score was forecast to rise to 51.7.
Copyright RTT News/dpa-AFX
© 2019 AFX News
