FX.co ★ DAX Falls for 2nd Day

Frankfurt’s DAX 40 fell for a second consecutive session on Friday, losing more than 1% to trade below 22,400, as investors remained cautious amid mixed signals from the Middle East. US President Trump extended by ten days the deadline for Iran to reopen the Strait of Hormuz, setting a new date of April 6, and stated that talks are “going very well,” despite repeated denials from Tehran. At the same time, German Foreign Minister Johann Wadephul confirmed that indirect contacts are ongoing and that direct talks are expected to take place in Pakistan. Nevertheless, attacks have continued and the Strait of Hormuz remains virtually impassable, keeping pressure on the oil market. Among the biggest decliners were Siemens Energy and Infineon, which fell 4.4% and 2.8%, respectively, while SAP gained 1.2%. Over the week, the index was little changed overall.