FX.co ★ DAX Sinks on Friday

On Friday, Germany's DAX experienced a significant decline, falling over 2% and dropping below the 24,000 threshold. This slump mirrored a global market downturn spurred by rising apprehensions about the stability of U.S. regional banks. Further dampening investor confidence were increasing tensions between the United States and China. The financial sector bore the brunt of the sell-off, with Deutsche Bank plummeting more than 5%, Commerzbank decreasing by 3.5%, and Allianz dipping approximately 3%. Defense industry stocks also saw a downturn, with Hensoldt dropping 2% and Rheinmetall losing 0.5%, ahead of a planned meeting in Hungary between U.S. President Donald Trump and Russian President Vladimir Putin to deliberate on the ongoing conflict in Ukraine. Conversely, Continental shares stood out as a rare positive performer, surging over 7% following the company's announcement of preliminary third-quarter results that exceeded expectations. Over the course of the week, the index was on track for a loss exceeding 2%, marking its most significant weekly decline since late July.