Europe Markets: German stock market slides by the most in 3 weeks as euro leaps

Stocks across Europe dropped on Tuesday, with the exporter-heavy DAX 30 index DAX, -1.25% ending 1.3% lower at 12,430.39—its worst session since June 29.

More broadly, European benchmarks finished the session under pressure as the euro stepped up to a 14-month high against the U.S. dollar and as disappointing corporate earnings reports rolled in. The euro EURUSD, +0.7057% climbed to $1.1574 from $1.1479 late Monday, notching an intraday high of $1.1585. A stronger euro can hurt European exporters as it makes products more expensive for overseas customers.

The Stoxx Europe 600 SXXP, -1.11% slumped 1.1% to end at 382.58, the largest percentage decline since June 29, FactSet data showed.

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