German investor confidence drops in June

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FRANKFURT, June 18 (AP): German investor confidence tumbled in June amid soaring food and oil prices and expectations of an upcoming interest rate rise, a closely watched survey showed Tuesday.

The ZEW institute's monthly index, which measures investors' expectations for the German economy over the next six months, dropped to negative 52.4 points from negative 41.4 in May.

It was influenced by factors including a decrease in incoming orders for businesses and continued increases in the price of food and oil.