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The dramatic increase in coronavirus infections in Germany is very worrying, German Finance Minister Olaf Scholz said on Tuesday, as reported by Reuters.

“Quick, decisive steps are needed to halt the new wave of infections,” Scholz added. “Extra measures should be targeted, temporary and focused, ideally apply nationwide.”

Scholz further noted that Germany has fared well during the pandemic but acknowledged that coming weeks will decide whether this remains the case.

Market reaction

Germany’s DAX 30 Index edged lower after these comments and was last seen losing 0.67% on a daily basis at 12,097.