7/5, 2:07 PM (Source: TeleTrader)
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Europe extends losses, DAX plunges 2%

Major stock indexes in Europe extended losses during the Tuesday session with DAX plummeting 2% at 2:08 pm CET. The indexes were seemingly weighed down by the downbeat data reports.

Services activity growth in both the Eurozone and Germany decelerated in the month of June. In addition, the bloc's currency hit a 20-year low against the dollar.

The DAX nosedived 2.15% or 275 points at 2:09 pm CET. London's FTSE 100 lost 1.79% at the same time. The CAC 40 tumbled 2.08% a minute later. The euro plunged 1.27% against the dollar at 2:11 pm CET, selling for 1.02921. The pound slid 0.96% against the greenback to go for 1.19905 at the same time.

Baha Breaking News (BBN) / AY