India, Aug. 8 -- German stocks are down in negative territory on Friday, drifting lower after four successive days of gains, as some disappointing earnings announcements, and concerns about the impact of tariffs imposed by U.S. President Donald Trump weigh on sentiment.

Trump administration's higher tariff rates on trading partners took effect from midnight. Meanwhile, Moscow confirmed Russian President Vladimir Putin and U.S. President Donald Trump are preparing to meet in the coming days, raising hopes of a ceasefire in the Ukraine war.

The benchmark DAX, which advanced to 24,195.69 earlier in the session, was down 58.95 points or 0.24% at 24,131.75 a little while ago.

Shares of German reinsurance major Munich Re are down more than 7% ...