The DAX 40 ended Tuesday’s session about 1% lower at 24,937, giving back part of Monday’s gains as tech-related stocks came under pressure amid worries over AI companies’ capital spending and the prospect of further Federal Reserve rate hikes. Sentiment was also shaped by developments in US-Iran talks, after Washington granted a 60-day license allowing Iran to sell its oil on the international market.
Chipmakers led the declines, with Infineon Technologies dropping more than 6%. Construction group Hochtief fell 4.3%, while Siemens Energy lost 3.9%; both had previously benefited from the surge in data center investment in recent months. Vonovia retreated 2.9% after announcing a convertible bond issue.
On the positive side, index heavyweight SAP and Airbus were the strongest performers, each advancing nearly 2%. Utility RWE edged higher after unveiling plans for a €4 billion capital increase to finance a majority stake in grid operator Amprion and outlining €6.5 billion of investment in German grid expansion through 2031.
