DAX Extending Losses To 4th Straight Session

(RTTNews) - German stock market's DAX lost ground Wednesday morning, extending their decline for a fourth straight session as concerns about a potential trade war continued to weigh on sentiment.

U.S. President Donald Trump shared altered images on his social media platform, Truth Social, that depict Greenland, Canada and even Venezuela as part of the United States - reigniting tensions over his Arctic strategy and territorial ambitions.

Hours before his speech at the World Economic Forum, which he is attending for the first time in six years, Trump warned the Nato alliance that it was only as strong as the United States allowed it to be.

Investors also looked ahead to Trump's speech at the World Economic Forum in Davos.

The benchmark DAX was down 129.81 points or 0.53% at 24,559.86 a little while ago.

Banks and financials stocks were among the notable losers, while auto stocks moved higher.

Commerzbank dropped 2.1%. Deutsche Bank and Deutsche Boerse lost 1.7% and 1.8%, respectively.

Bayer drifted down by about 1.4%. Deutsche Telekom, Munich RE, Siemens Energy, Zalando, GEA Group, Merck, Scout24, E.ON, MTU Aero Engines, Siemens Healthineers and Allianz lost 0.7 to 1.1%.

Henkel gained nearly 3%. BASF, Qiagen, Daimler Truck Holding and Volkswagen gained between 1.5% and 2%.

Continental, Mercedes-Benz, Porsche Automobil Holding, Beiersdorf, Fresenius Medical Care, BMW, Brenntag and RWE moved up by 0.7 to 1.3%.