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DAX faces snap election as Scholz's coalition crumbles

DAX was down on Thursday after testing the high level of 19646 in the last trading session as Germany's ruling coalition collapsed on Wednesday as Chancellor Olaf Scholz sacked his finance minister and paved the way for a snap election, triggering political chaos in Europe's largest economy hours after Donald Trump won the U.S. presidential election. DAX Index 1.09 percent on Wednesday. Losses were led by Mercedes-Benz AG (-6.76%), Zalando (-6.30%) and BMW (-6.17%). Imports to Germany grew by 2.1% month-over-month to EUR 111.3 billion in September 2024, rebounding from a downwardly revised 2.6% drop in August and faster than market expectations of a 0.5% rise.