DAX Drops Over 1%
Frankfurt's DAX 40 fell more than 1% to around 24,900 on Thursday, the lowest since July 23, as traders contended with higher oil prices and elevated bond yields at the start of the fourth quarter. Geopolitical risks remained elevated, with diplomatic efforts to resolve the Middle East conflict stalled, despite signs of improved energy flows from the Gulf. At the same time, recent inflation data from European economies showed intensifying price pressures, which adds pressure to the ECB to keep its monetary policy tighter for longer. Most sectors faced pressure, except technology.
Frankfurt's DAX 40 fell more than 1% to around 24,900 on Thursday, the lowest since July 23, as traders contended with higher oil prices and elevated bond yields at the start of the fourth quarter. Geopolitical risks remained elevated, with diplomatic efforts to resolve the Middle East conflict stalled, despite signs of improved energy flows from the Gulf. At the same time, recent inflation data from European economies showed intensifying price pressures, which adds pressure to the ECB to keep its monetary policy tighter for longer. Most sectors faced pressure, except technology.