The DAX 40 pared early declines to trade slightly lower, around 26,120 on Monday, pressured by weakness in technology and automotive shares. Investors remained cautious ahead of details on new US sanctions on Iran due later in the day, amid concerns over their potential impact on global inflation and interest rates.
Markets also looked ahead to the Jackson Hole symposium later this week, where Fed Chair Kevin Warsh will make his debut appearance and is expected to come under close scrutiny regarding the outlook for US monetary policy.
Chipmaker Infineon Technologies and AI-related names such as Siemens Energy fell more than 1%, as sentiment turned cautious before Nvidia’s earnings release. Volkswagen retreated 1.6% after CEO Oliver Blume warned that mounting pressure on the automotive industry would necessitate further cost-cutting, including substantial workforce reductions. The German carmaker is preparing for weeks of negotiations over a planned restructuring program.
