FX.co ★ DAX Slips Over 1%

Frankfurt's DAX 40 dropped more than 1% on Thursday, falling below the 25,000 mark to its lowest level since July 23, as investors grappled with rising oil prices and elevated bond yields at the start of the fourth quarter. Geopolitical risks remained high, with diplomatic efforts to resolve the Middle East conflict apparently stalled, even as signs emerged of improved energy flows from the Gulf. At the same time, the latest inflation data from several European economies pointed to mounting price pressures, increasing the likelihood that the ECB will maintain a tighter monetary stance for an extended period. Nearly all sectors came under pressure, with the notable exception of technology.