Fri, 01 Mar 2013 17:59:04 GMT
German stocks lower on U.S. spending cuts
German shares dropped, yet showing an increase on a week, as U.S. spending cuts raised concerns that the global economy might reduce its pace of growth. The DAX index declined 0.3%, or 23.10 points, to 7,718.78 by 16:59 p.m. in Frankfurt. Deutsche Bank AG tumbled to its lowest level in 2013 after Goldman Sachs Inc. cut its stock rating. Commerzbank