DAX 40 slips 0.4% to around 26,140 on September jitters
The DAX 40 fell 0.4% to around 26,140, its lowest since August 24. Investors weighed risks of prolonged US-Iran conflict and rising oil, while ECB-related rate-hike expectations drew attention.
The DAX 40 fell 0.4% to around 26,140 on Tuesday, the lowest since August 24, as September began with investors wary that a prolonged US-Iran conflict could fuel energy-driven inflation and prompt tighter monetary policy.
Oil prices continued to rise on the back of flared-up hostilities in the Middle East, with traders increasingly pricing in interest rate hikes by major central banks.
Eurozone flash inflation figures are expected to reinforce expectations for near-term rate hikes by the ECB.
Sectorally, energy-sensitive industrials, banks and autos were the hardest hit.
Software giant SAP led losses among stocks, slipping 2.5%.