After overcoming historic loss, Merz becomes chancellor

Conservative leader Friedrich Merz succeeded on Tuesday in becoming Germany's next chancellor, drawing applause and a palpable sense of relief in the parliament chamber after a historic loss in the first round of voting threatened the new government's promises of stability.

- Associated Press

BERLIN:

No other postwar candidate for German chancellor has failed to win on the first ballot. The stunning but short-lived defeat sent shock waves throughout Europe and dragged down the stock market. The DAX, the index of major German companies, fell by 1.8% at one point.