German equities tumbled on Tuesday on lack of action from the ECB and fading hopes for QE3 in the US. Dismal headlines from Japan also weighted down on the German shares. However, successful short-debt auctions in Italy and Spain restricted losses of the German blue chips index. The DAX Index dropped by 0.64% to trade at 6,977.85. All industries within the index slumped. The biggest declines posted consumer services and telecommunications. Metro and Deutsche Telecom slid 0.89% and 1.10%. Meanwhile, lenders also moved lower, with Deutsche Bank and Commerzbank plunging by 2.42% and 1.49%.