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German Stocks Drop after Slump in U.S. Durable Goods Orders

Germany stocks dropped, erasing an earlier advance, after data showed orders for durable goods in the U.S. dropped more than forecast, damping confidence in the world’s largest economy.

The benchmark DAX Index lost 0.5 percent to 6,818.59 at 2:58 p.m. in Frankfurt after earlier climbing as much as 0.7 percent. The broader HDAX Index slid 0.4 percent.

Bookings for goods meant to last at least three years slumped 4 percent in January, the most in three years, led by a slowdown in demand for comercial aircraft and business equipment, data from the Commerce Department showed today. That followed a revised 3.2 percent gain the prior month.

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