FX.co ★ DAX Slides to 1-Month Low

The DAX 40 deepened its early losses on the first trading day of September, dropping more than 1% to around 25,980 — a level last seen in late July. Rising oil prices and government bond yields, driven by escalating tensions in the Middle East, weighed on global equity markets, as renewed inflation concerns strengthened expectations of further interest-rate hikes. Eurozone inflation rose to 3.3% in August, its highest level since September 2023 and the second consecutive monthly increase, reinforcing forecasts of a more restrictive policy stance from the ECB. Most sectors traded in negative territory, with utilities and chemicals the only exceptions. MTU Aero Engines was the session’s worst performer, falling 2.7%, followed by SAP, Deutsche Bank, BMW, Mercedes-Benz Group, Rheinmetall, Volkswagen and Vonovia, all down more than 2%. Merck led the gainers, rising 1.6% after receiving a buy recommendation from HSBC. Symrise added 1.4%, supported by a buy rating from Jefferies and news of the planned sale of its US terpene business to Mutares.