FRANKFURT (dpa-AFX) – After recently reaching new highs, the DAX plunged sharply just before the close of trading on Friday. Following only minor fluctuations throughout the day, statements from U.S. President Donald Trump directed at China triggered a significant setback.
The leading index ended the day down 1.50 percent at 24,241.46 points, translating to a weekly loss of just over half a percent. Only the day before, it had set a new record at 24,771 points, making rapid strides toward the symbolic 25,000-point mark.
Due to the ongoing trade conflict with China, Trump unexpectedly cast doubt late in the afternoon on his planned meeting with Chinese President Xi Jinping in South Korea. He had been scheduled to meet Xi at the Asia-Pacific Economic Cooperation summit, “but now it seems there is no longer any reason for it,” the President wrote on the Truth Social platform. He also criticized China’s recent…
