BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks fell sharply on Wednesday as investors fretted about the economic impact of Covid-19 on the global economy.
Concerns mounted over a second wave of coronavirus infections, with a top infectious diseases doctor in the U.S. warning senators that the coronavirus will spread further if the country opens up too soon.
The benchmark DAX fell 176 points, or 1.65 percent, to 10,642 after declining 0.1 percent the previous day.
Shares of Commerzbank slumped 4.3 percent after the banking major reported a loss in its first quarter, compared to prior year's profit, hurt mainly by impacts from coronavirus pandemic.
Deutsche Bank tumbled 3.2 percent on news that top managers will waive one month of fixed pay in an effort to cut costs.
United Internet jumped 4 percent after making a good start in its fiscal year 2020 and confirming full-year guidance.
Property company Deutsche Wohnen was marginally higher while Leoni, a cable and harnessing manufacturing firm, lost 4.6 percent after unveiling their quarterly results.
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