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DAX Slides As EU Leaders Fail To Agree Rescue Package

(RTTNews) - German stocks fell on Wednesday after rising sharply in the previous two sessions on signs that coronavirus infections were plateauing in the worst hit parts of Europe and the United States.

New deaths rose to 743 in Spain and infections climbed by 5,400 after five days of declines, but authorities said they were confident in the downward trend.

New cases dropped to a level not seen since the early weeks of the outbreak in Italy, while France became the fourth country to report a death toll of more than 10,000.

Meanwhile, the European Union's future is at stake if it cannot come up with a joint financial response to combat the new coronavirus, Spanish officials warned today, after EU officials failed to reach an agreement on more support for their reeling economies. The meeting is suspended until Thursday.

The benchmark DAX dropped 120 points, or 1.16 percent, to 10,236.40 after rallying 2.8 percent in the previous session.
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