The DAX 40 reversed course on Tuesday, closing about 0.7% lower at 24,418 — its weakest finish since May 19 — as renewed pressure on technology shares weighed on the index. The benchmark mirrored losses on Wall Street, where concerns over stretched valuations among major US tech companies resurfaced ahead of SpaceX’s planned IPO on Friday.
Geopolitical developments in the Middle East were broadly reassuring. Israel and Iran halted reciprocal strikes following an appeal by US President Trump, who indicated that a deal with Tehran was close to being finalized. At the same time, US Energy Secretary Chris Wright highlighted increasing shipping traffic through the Strait of Hormuz, easing some worries about regional supply disruptions.
Technology names bore the brunt of the selloff on the DAX. Infineon Technologies fell 3.4%, while SAP lost 2.2%. Siemens Energy also came under significant pressure, sliding nearly 6%. In contrast, Symrise stood out on the upside, jumping 7.2% after JPMorgan reiterated its “Buy” recommendation and maintained its €100 price target.
