1/24, 5:37 PM (Source: TeleTrader)
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Europe closes lower, DAX plummets over 500 pts

European markets closed the first day of the week lower as investors prepare for the upcoming US Federal Reserve meeting and keep an eye on developments in Ukraine as tensions with Russia escalate. The Bundesbank reported German GDP grew by 2.7% in 2021, unable to offset the economic contraction of 4.5% recorded in 2020. More news on COVID-19 and inflation impacted market performance.

The DAX lost 3.74% or 583.39 points at 5:35 pm CET, with Delivery Hero down by 8.07%. The CAC 40 fell 3.97%, while Saint Gobain decreased 8.46%. The FTSE 100 declined by 2.66%, as Bank VTB dropped by 10.83%.

The euro was down by 0.24% against the dollar at 5:30 pm CET, selling for $1.13138, and the pound lost 0.74%, going for $1.34533.

Baha Breaking News (BBN) / JG