FX.co ★ DAX Ends in the Red

Frankfurt's DAX attempted a brief rally but ultimately ended Wednesday 0.2% lower at 24,048, marking the fifth consecutive session of decline. The index faced pressure due to persisting trade uncertainties and disappointing corporate earnings from European companies. Investors had been hoping for a more advantageous tariff agreement than previously proposed, but President Trump renewed his threat to broaden tariffs to include pharmaceuticals and semiconductors, potentially as early as August 1. This aligns with his deadline for the implementation of a 'reciprocal' tax policy. Meanwhile, EU Trade Commissioner Maros Sefcovic is headed to Washington for another round of discussions concerning the 30% tariff imposed by the United States. The automotive sector was notably affected, with Volkswagen dropping 3.7%, Porsche AG falling 3%, and Mercedes-Benz Group declining 1.9%. In addition, Brenntag's shares fell 2.6% following a downgrade by Deutsche Bank from a 'Buy' to a 'Hold' with a reduced price target from €57 to €52.