Daily brief
Scott Bessent, founder of Key Square Capital, stated that Deutsche Bank's CEO distanced the institution from a research note suggesting US assets could be overvalued, a move Bessent described as unusual for a major bank.
German Chancellor Olaf Scholz called the European Parliament's vote to delay the EU-Mercosur trade agreement 'regrettable', a move that analysts say undermines EU Commission President Ursula von der Leyen's geopolitical strategy.
SAP shares fell to a 17-month low as a broader selloff in AI-related stocks erased approximately $130 billion in market value from European tech companies.
Germany's state-owned rail operator Deutsche Bahn faces criticism from private competitors who label it outdated, following a government decision seen as a major blow to the service.
German industry associations warn that potential new US tariffs would significantly harm the country's economic growth.