FX.co ★ DAX Underperforms in Europe

The DAX 40 fell more than 1% to around 24,860 on Wednesday, erasing the modest gains from the previous two sessions and underperforming other major European benchmarks. Investors closely monitored the corporate earnings season but remained cautious amid persistent tensions in the Middle East. President Trump’s decision to withdraw a proposed 20% tax on goods transiting the Strait of Hormuz did little to calm markets, as concerns lingered after Tehran declared the waterway would remain closed until what it described as US aggression comes to an end.