DAX tumble due to US Election

DAX was up on Wednesday morning after testing the low level of 19166 in the same trading session as The DAX was up 0.8% to trade around the 19400 level on Wednesday, a small gain compared to other European counterparts, as traders digest the victory of Donald Trump in the US presidential election. A Trump win is expected to present challenges for the European economy, particularly in areas like trade tariffs, security, and support for Ukraine. The auto sector was one of the most hits due to concerns about tariffs but also due to disappointing results from BMW. Porsche (-4.9%), VW (-3.4%) and Mercedes-Benz AG (-3%) were sharply down and BMW declined almost 5% after reporting a 61% decline in third-quarter profit.