1st LD: German stocks fall more than 3 pct on Friday

Source: Xinhua| 2019-08-03 00:54:56|Editor: huaxia
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FRANKFURT, Aug. 2(Xinhua) -- The German benchmark DAX index plunged more than 3 percent in Friday afternoon's trading, slipping below the psychologically important mark of 12,000 points.

German media Handelsblatt reported it has dramatically shaken German stock market that U.S. President Donald Trump tweeted he will place an additional 10-percent tariff on the remaining 300 billion U.S. dollars worth of Chinese imports starting on Sept. 1.

The Germany-based transnational manufacturing enterprises including BMW, BASF, Siemens, Bayer etc., which are sensitive to global value chain, were hit most seriously, with share prices felling around 3 percent.

China strongly opposes the U.S. plan to impose additional 10-percent tariffs on 300 billion U.S. dollars of Chinese imports, and will have to take necessary countermeasures to defend its interests, the Chinese Ministry of Commerce said Friday.

The U.S. move seriously violated the consensus reached by the two heads of state in Osaka, deviated from the right track and was not helpful to solve the problem. China is strongly dissatisfied with and firmly opposes the plan, a ministry spokesperson said. Enditem