BRUSSELS (dpa-AFX) - German stocks tumbled on Friday amid concerns about inflation and a lack of any positive outcome from U.S.-China trade talks.
U.S. President Donald Trump said he will not be much more patient with Tehran. Concerns about Hormuz Strait linger despite Iran's Revolutionary Guards' claim that around 30 vessels had crossed the strait since Wednesday evening.
Trump's tougher stance on the Middle East issue has raised fears that the US could resume strikes on Iran.
Oil prices climbed nearly 4%, triggering inflation concerns.
Germany's benchmark DAX was down 414.82 points or 1.7% at 24,037.80 about a quarter before noon.
Heidelberg Materials tumbled 5.6%. Infineon Technologies slipped 5.1% on profit taking after recent gains. Siemens Energy fell 4.4% and Scout24 eased by about 4.2%.
Siemens shed nearly 4%. MTU Aero Engines, Deutsche Bank and Deutsche Post lost 2.8%, 2.2% and 2%, respectively. Continental, Merck, Adidas, Vonovia, Daimler Truck Holding, BMW and Allianze also drifted notably lower.
Munich RE climbed 1.3%. Fresenius Medical Care and Rheinmetall moved up 1.1% and 1%, respectively.
Hannover RE, Fresenius, SAP and Henkel posted modest gains.
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