FX.co ★ DAX Ends on Negative Note

The DAX index in Frankfurt concluded Monday, marking the start of June, with a decline of approximately 0.3%, closing at 23,496. This downturn was primarily influenced by renewed trade tensions and geopolitical uncertainties. The US President, Donald Trump, announced plans to double tariffs on imported steel and aluminum from 25% to 50%. Concurrently, China accused the United States of violating their trade agreement, following Trump's previous assertions. Negotiations between Kyiv and Moscow concluded without achieving a ceasefire, resulting only in an agreement to exchange prisoners. Market participants are now turning their attention to the forthcoming European Central Bank (ECB) meeting, where a further interest rate reduction is broadly expected. In terms of individual stocks, Rheinmetall and Sartorius were among the notable decliners, each falling over 3%. Other significant losers in the market included automotive stocks such as Daimler Truck Holding, Mercedes-Benz Group, BMW, and Porsche, which decreased by 2.8%, 2.6%, 2.4%, and 2% respectively.