FX.co ★ DAX on Negative Note

On Wednesday, Frankfurt's DAX index fell by almost 1%, dropping below the 21,100 threshold after two consecutive days of growth. This decline was part of a wider downturn affecting European markets. The introduction of new U.S. export restrictions on Nvidia chips destined for China, alongside underwhelming earnings reported by ASML Holding NV, rekindled trade tensions and adversely affected technology stocks. Consequently, prominent German technology-related companies, such as Siemens, Siemens Energy, Infineon Technologies, and SAP, saw declines ranging from 1% to 3.3%. Sectors such as basic resources, chemicals, automotive, and pharmaceuticals also faced downward pressure.