BRUSSELS (dpa-AFX) - German stocks tumbled on Monday amid lingering worries about geopolitical tensions, and concerns over possible rate hikes by the Federal Reserve following upbeat U.S. jobs data.
A sharp rise in oil prices, higher bond yields and weak factory orders data weighed as well on sentiment.
Brent crude futures climbed to over $98 a barrel before easing to $97.19, still up as much as 4.4% over previous close.
The benchmark DAX, which fell to 24,397.50 earlier in the session, losing nearly 400 points in the process, was down 205.02 points or 0.83% at 24,568.70 about half an hour before noon.
Zalando, Vonovia, Continental, Heidelberg Materials and MTU Aero Engines dropped 2%-3%.
Siemens shed nearly 2% and Commerzbank drifted down 1.9%. BASF, Daimler Truck Holding, Siemens Healthineers, Qiagen, Brenntag, Deutsche Post, Beiersdorf, SAP, Adidas, Symrise, Deutsche Boerse, Merck and Gea Group lost 1%-1.6%.
Infineon Technologies moved up 1.4%, Porsche Automobil Holding gained 0.85% and RWE climbed 0.6%.
Shares of wind turbine manufacturer Nordex Group advanced 1.5% after the company secured new orders totaling 255MW in the first two months of the second quarter.
Data from the federal statistical office Destatis showed Germany's factory orders declined more than expected in April, falling 3.8% in the month, in contrast to the 4.5% increase in March. Economists had forecast a fall of 2.2%.
On a yearly basis, orders grew 1.6% but much slower than the 6.1% growth posted in March.
Data showed a significant decline of 5.3% in new orders in the automotive industry followed by a 16.3% fall in the manufacture of electrical equipment. Mechanical engineering equipment orders fell 7.4%. Orders declined across all major categories, including consumer goods (down 6.7%), intermediate goods (down 4.4%), and capital goods (down 2.9%).
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