The DAX 40 declined 0.4% to around 26,140 on Tuesday, its lowest level since August 24, as the new month opened with investors cautious that a prolonged US–Iran confrontation could stoke energy-driven inflation and trigger tighter monetary policy. Oil prices and global bond yields continued to climb amid escalating tensions in the Middle East, with markets increasingly pricing in additional interest rate hikes from both the ECB and the US Federal Reserve.
Sector-wise, energy-sensitive industrials, banks, and automakers suffered the steepest losses, while gains in pharmaceutical stocks, chipmakers, chemical companies, and utilities helped limit the downside. Software heavyweight SAP was the weakest performer on the index, falling 2.5%. Rheinmetall, MTU Aero Engines, Scout24, BMW, Mercedes-Benz Group, and Volkswagen dropped between 0.8% and 2.1%. Deutsche Bank and Commerzbank each lost more than 1%. On the upside, Merck (+2.3%), RWE (+1.5%), and Symrise (+1.5%) were the session’s top gainers.
