17.07.202608:11:11UTC+00DAX Down for 3rd Day

The DAX 40 slipped 0.5% to around 24,800 on Friday, extending its losing streak to a third consecutive session amid a sharp selloff in technology shares and mounting worries over rising tensions in the Middle East. Oil prices remained elevated as the United States and Iran stepped up attacks across the Gulf, disrupting crude flows through the Strait of Hormuz and reinforcing inflation concerns.

Investors largely expect the ECB to leave interest rates unchanged next week, with a possible rate cut penciled in for September. Among individual movers, chipmaker Infineon Technologies dropped 5%, while AI infrastructure-related names Siemens Energy and Hochtief fell 2.6% and 2.5%, respectively. Deutsche Bank and Commerzbank also came under pressure, losing 1.5% and 1.4%.

On the upside, Deutsche Telekom gained 2.5%, E.ON rose 1.7%, and SAP advanced 1.6%. For the week, the DAX 40 was on track to post a decline of more than 1%.