Dax Below 25,000 on Tech Sell-Off and Gulf Strikes

Overview

• The Dax slipped under the 25,000 mark and showed fresh downside pressure on Friday as US and Asian technology weakness and a correction in leveraged AI and semiconductor products dented investor risk appetite.
• Renewed US strikes on Iranian military targets and Iranian retaliatory hits in Gulf states have sharply reduced tanker movements through the Strait of Hormuz, with RBC analysts saying seven‑day oil flows fell from 8.5 million to about 3.9 million barrels per day since fighting resumed.
• Brent crude moved into the mid‑$80s per barrel on the disruption, and investors and asset managers warned that markets may accept a semi‑permanent pattern of periodic flow interruptions that would sustain an oil risk premium.
• Softer US producer and consumer price readings have cut the market‑implied probability of a near‑term Fed rate hike to roughly 10 percent on the CME FedWatch tool, easing immediate policy‑tightening fears but leaving markets sensitive to growth and earnings news.
• Company news is increasing stock‑by‑stock volatility: SMA Solar raised its outlook and saw a double‑digit premarket jump while Dermapharm shares fell after BaFin opened a review of its 2025 accounts.