Dax Futures are experiencing a decline on Wednesday, impacted by Federal Reserve Chairman Jerome Powell’s remarks indicating that equity prices are considered quite elevated by various metrics. The benchmark DAX, which reached 23,634.32 earlier in the session, has decreased by 46.14 points or 0.2%, now standing at 23,584.46. Defense stocks are experiencing some support following U.S. President Donald Trump’s assertion that he believes Ukraine can reclaim all territory occupied by Russia and that Kyiv should take action immediately.

Fresenius, Bayer, Qiagen, Beiersdorf, Deutsche Boerse, Allianz, and Porsche Automobil Holding are all experiencing a decline. Daimler Truck Holding, Mercedes-Benz, Merck, Deutsche Bank, Volkswagen, Siemens Healthineers, BASF, Infineon Technologies, and BMW have experienced a decline of 1 to 1.5%. Rheinmetall, Zalando, Siemens Energy, RWE, MTU Aero Engines, Deutsche Telekom, Fresenius Medical Care, and Deutsche Post are experiencing gains ranging from 0.5% to 1.7%.

• Continental and Brenntag have both declined by over 2%.
• Shares of wind turbine maker Nordex are up 1.2%
• The Expectations Index fell to 89.7 from 91.4

On the economic front, the Ifo Institute reported a decline in its business Climate Index for Germany, which decreased by 1.2 points to 87.7 in September, down from a revised 88.9 in August. The reading represented the lowest point since May and the most significant monthly decline in more than a year. The current conditions index decreased to 85.7 from 86.4, indicating that uncertainty regarding US tariff policy has impacted sentiment, obscuring the outlook for Europe’s largest economy.