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2026.11.0309:02:29UTC+00DAX Down on Tuesday

Frankfurt’s DAX 40 fell more than 1% to below 24,700 on Tuesday, as early-week optimism gave way to renewed caution. Investors weighed mounting concerns over artificial intelligence, a mixed batch of corporate earnings, and uncertainty ahead of the upcoming US midterm elections. Sentiment was further pressured by geopolitical tensions, after reports of a US strike on Iran’s Qeshm Island pushed oil prices higher and stoked fears of further escalation.

Most sectors traded in the red, led by technology, software, retail and industrial names. Among individual movers, Zalando dropped more than 5%, as weaker gross margins and a net loss overshadowed slightly better-than-expected sales. SAP, Infineon Technologies and Siemens Energy each declined around 3%, in line with a broader global pullback in the sector. Adidas fell 2% after UBS downgraded the stock to “sell” from “neutral”.

In contrast, Bayer outperformed, jumping 6% after the company raised its profit outlook for 2026. Deutsche Lufthansa also advanced, gaining 2.5% following a third-quarter profit report that came in slightly ahead of market expectations.

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