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DAX Tumbles Ahead Of Central Bank Meetings

(RTTNews) - German stocks fell sharply on Monday as investors awaited a slew of central bank meetings this week for clues on the asset tapering and interest rate hike timelines.

Inflation worries also remained in focus after data showed producer prices increased in August at the fastest pace since 1974.

German producer price inflation rose to 12 percent in August from 10.4 percent in July, Destatis reported. This was the biggest growth since December 1974, when prices were up 12.4 percent amid the first oil crisis.

The benchmark DAX fell 332 points, or 2.1 percent, to 15,158 after falling 1 percent on Friday.

Daimler AG lost 3 percent. Media reports quoted the chief of its truck division as saying the unit had seen the supply of crucial chips tighten further in recent weeks.

Airline Lufthansa rallied 2.5 percent as it announced a capital increase to repay part of a government bailout.
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