FRANKFURT (dpa-AFX) - The German stock market failed to sustain its moderate upward momentum on Tuesday, drifting into negative territory during the afternoon session. The downturn was fueled by rising oil prices and bond yields amid the ongoing Middle East crisis. Traders pointed to growing investor jitters ahead of potential further negotiations between the U.S. and Iran, as the current ceasefire nears its expiration.
The DAX closed 0.60 percent lower at 24,270.87 points, having gained as much as 0.8 percent during morning trading. Meanwhile, the MDAX, which tracks mid-cap stocks, ended the day down 0.50 percent at 31,347.93 points.
Ahead of potential further talks with Iran in Pakistan, U.S. President Donald Trump believes his country holds a strong bargaining position. Speaking to CNBC, Trump stated that Iran has no choice but to send representatives for further discussions with a U.S. delegation. He indicated that he expects a "great deal," adding, "I think they have no choice." During the interview, Trump reaffirmed that the U.S. will not lift its naval blockade of Iranian ports until a "final agreement" is reached./edh/he
