Frankfurt’s DAX 40 declined by more than 1%, dropping below 24,700 on Tuesday, as the initial optimism observed at the beginning of the week was supplanted by a resurgence of caution. Investors faced increasing apprehensions regarding AI developments, varied corporate earnings reports, and the impending US midterm elections. Geopolitical tensions have intensified, as reports of a US strike on Iran’s Qeshm Island have contributed to rising oil prices and heightened concerns regarding potential escalation.
Most sectors experienced declines, with technology, software, retail, and industrials leading the downturn. Zalando experienced the most significant decline among individual stocks, falling by more than 5%, as disappointing gross margins and a net loss eclipsed marginally improved sales figures. SAP, Infineon Technologies, and Siemens Energy experienced declines of approximately 3% each, reflecting the broader weakness observed across global sectors.
Adidas experienced a decline of 2% following UBS’s decision to downgrade its rating from “neutral” to “sell”. Meanwhile, Bayer shares exhibited notable performance, increasing by 6% following the company’s upward revision of its profit outlook for 2026. Deutsche Lufthansa experienced a 2.5% increase following the announcement of its Q3 profit, which marginally surpassed expectations.
