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8/15, 12:05 PM (Source: TeleTrader)
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DAX sinks to lowest level in nearly five months

Any trace of optimism evaporated on Thursday toward midsession on stock markets in the European Union as China ramped up criticism of the United States, apparently killing President Donald Trump's offer to meet his counterpart Xi Jinping. Oil dropped, gold shifted to gains and sovereign yields of Germany, the United Kingdom and the US resumed the search for new lows.

The German DAX index slumped 0.92% to 11,390.24 points at 12:03 pm CET after reaching the weakest mark since March 26, at 11,358.74. The FTSE 100 lost 1.07% in London to 7,071.6 points, helped by a rise in the pound, which normally pressures valuations of companies which lean on foreign income. The blue-chip gauge touched 7,063.24 for the first time in more than five months. The French CAC 40 sank 0.69% to 5,214.86. Earlier it hit 5,194.09 points, the lowest level since June 4.

The euro gained 0.12% to $1.11521. The pound leaped 0.33% to $1.20989, underpinned by strong numbers on retail sales from July. The joint currency retreated 0.19% to £0.92192. Gold was up 0.26% at $1,520.45 per ounce.

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