FRANKFURT (dpa-AFX) - The correction trend that has dominated the DAX since its record high in early June remains intact for now. Following a robust start to the week, broker IG estimated the German benchmark index to open around 0.3 percent lower at 24,010 points on Tuesday, just under two and a half hours before the start of Xetra trading. This means the breakout from consolidation, which had seemed possible on Monday, has not materialized for the time being.
The tariff dispute with the United States continues to be a nerve-wracking stalemate. US President Trump is still keeping the option open for another postponement of the deadline for imposing tariffs on several countries, including the European Union. When asked whether the new deadline of August 1 was binding, he told reporters on Monday evening (local time): "I would say binding, but not 100 percent."
On Monday, Trump postponed the deadline for new tariffs from this Wednesday (July 9) to August 1 and published more than a dozen letters to various countries outlining different tariff rates. However, it remains unclear what exactly the new deadline means for the EU./ag/zb
