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Germany's benchmark DAX index slumps

Xinhua, April 30, 2015 Adjust font size:

The benchmark DAX index at the Frankfurt Stock Exchange on Wednesday slumped by more than 370 points.

The Gross domestic product of the United States grew by 0.2 percent in the first quarter, the U.S. Commerce Department said Wednesday.

The slowed down growth of the economy came as a surprise to investors. The blue-chip index lost 378.94 points, or 3.21 percent and closed at 11,432.72 points.

The slump at the Frankfurt Stock Exchange sent all the 30 DAX member shares into negative territory. K+S Aktiengesellschaft, a supplier of standard and speciality fertilizers was hit hard and lost 6.45 percent. Merck KGaA, a chemical, pharmaceutical and life sciences company, plunged by 5.37 percent. Infineon Technologies AG, a semiconductor producer, dropped by 4.75 percent. Continental AG lost 4.59 percent. Fresenius SE & Co. KGaA, a health care company, slid by 4.04 percent.

Deutsche Lufthansa AG shrank by the smallest margin among all the DAX member shares, down by 1.04 percent. Commerzbank AG slipped by 1.23 percent.

The turnover stood at 6.02 billion euros (around 6.57 billion U.S. dollars). Daimler AG was the most traded share of the day with a turnover of 507 million euros (around 553.44 million U.S. dollars). Endit