The DAX 40 experienced a decline for the second consecutive session on Tuesday, decreasing by 0.3% to approximately 25,930, mirroring the performance of its European counterparts. Persistently elevated oil and gas prices, coupled with ongoing tensions in the Middle East, have intensified concerns regarding inflation in anticipation of this week’s European Central Bank meeting.

The ECB is anticipated to increase borrowing costs by an additional 25 basis points to 2.5% on Thursday, representing the second rate hike of the year. The technology sector experienced the most significant impact, in conjunction with banks, insurers, and industrials. Infineon Technologies experienced a decline of nearly 3%, positioning it as the worst performer, subsequent to a downgrade by Morgan Stanley from “overweight” to “equal weight”.

Other notable decliners included Heidelberg Materials, Continental, Siemens Energy, Adidas, Airbus, and Deutsche Bank, with losses ranging from 1% to 2%. On the upside, Fresenius SE & Co and Scout24 experienced the most significant gains, increasing by 1.7% and 1.5%, respectively.