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DAX Rebounds As Markets Watch US Political Developments

2024-12-24iFOREXiFOREX
German stocks rebounded on Monday, after having suffered steep losses in the previous session following a global IT outage linked to issues at cybersecurity firm CrowdStrike.
DAX Rebounds As Markets Watch US Political Developments

(RTTNews) - German stocks rebounded on Monday, after having suffered steep losses in the previous session following a global IT outage linked to issues at cybersecurity firm CrowdStrike.

The dollar slid while Treasuries rose as investors weighed the implications of U.S. President Joe Biden's exit from the presidential election race.

Amid growing calls within his Democratic Party for his stepping down, Biden endorsed his Vice-President Kamala Harris for the Democratic nomination.

The benchmark DAX was up 177 points, or 1 percent, at 18,348 after losing 1 percent on Friday.

In corporate news, wind turbine maker Nordex rose about 1 percent after an announcement that it will launch N169/5.X turbine with a power rating of up to 5.5 megawatts and 169-meter rotor diameter under its Delta4000 platform.

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