German stocks declined ahead of FOMC minutes release

German shares dropped after Japan reported wider than expected trade deficit in July. Escalated cautiousness ahead of the FOMC minutes release also weighted down on German blue chips. The German DAX Index declined by 0.78% to trade at 7,017.41. Only one sector included in the index increased. Financials moved higher thanks to Deutsche Bank that gained 0.52%. At the same time, health care and technology shares dragged the index lower. Fresenius Medical Care and Fresenius SE & Co slumped by 1.69% and 2.24% while SAP lost 1.44%. Meanwhile, utilities also declined, with RWE and E.ON sinking by 0.04% and 0.55%.