German shares lost on Wednesday, with the benchmark DAX index down 193.08 points, or 1.47 percent, to close at 12,976.84 points.

German airlines Lufthansa lost the most among the blue chips, down by 3.16 percent, followed by reinsurance company Munich Re and automotive manufacturer Volkswagen, which lost 2.46 percent and 2.32 percent respectively.

German multinational software corporation SAP and chemical and consumer goods company Henkel were the only two winners, rising 0.08 percent and 0.05 percent respectively.

Multinational chemical and pharmaceutical company Bayer was the most traded share of the day with a turnover of 313.47 million euros (367.01 million U.S. dollars).