DAX ends about 1.7% lower at late-July levels amid Middle East oil jump
DAX 40 deepened losses to close about 1.7% lower at 25,554, last seen in late July. Brent crude rose above $100, while traders look to an ECB rate rise from 2.25% to 2.5% on Thursday.
7% lower at 25,554 on Wednesday, a level last seen in late July, as it tracked European peers. Middle East escalation lifted crude oil prices, with Brent moving above $100 a barrel to its highest level since last July, adding to inflation concerns ahead of the ECB's decision. 5% on Thursday, with traders focused on the future policy path. Selling was broad-based across most sectors, with pressure seen in energy-intensive industrials, techs, banks, financials and autos.
Rheinmetall dropped over 4%, reversing the strong performance seen the previous day.