Frankfurt’s DAX 40 trimmed steep early losses to finish about 0.8% lower at 23,394 on Monday, its weakest close since November 2025, as investors grew increasingly concerned about the impact of a prolonged war on the global economy. The conflict in the Middle East escalated over the weekend, with US and Israeli airstrikes targeting Iranian oil infrastructure, regional producers reducing output, and tanker traffic through the Strait of Hormuz nearly coming to a standstill.
The resulting spike in oil prices stoked fears of a sustained energy crisis and a new wave of global inflation, leading traders to step up wagers on further ECB interest rate hikes. Among the biggest losers on the index, airline Deutsche Lufthansa dropped 7.3%, while Qiagen NV and Continental fell 5% and 4.4%, respectively. Other notable decliners included Beiersdorf, Vonovia, Porsche Automobil, MTU Aero Engines, and Volkswagen, which shed between 1.7% and 3.6%.
In contrast, Bayer, GEA Group, and Rheinmetall were among the session’s top performers, gaining 4%, 2.1%, and 2%, respectively.
