DAX index tumbles on economic data

German DAX index plunged on Wednesday as disappointing economic data sent shares sharply lower. Final Euro Zone PMI for March affirmed contraction across the region amid climbing Spanish borrowing costs. Moreover ECB left its benchmark rate steady at 1%. German car makers and financials contributed most to the downside. Volkswagen AG lost 1.1% and Daimler AG declined 1.2%. Commerzbank AG tumbled 3.2% and Deutsche Bank fell 2.7%. At the moment of writing DAX 30 is 2.1% or 146.55 points down at 6,835.63.