Overview
- The DAX is indicated 0.5% lower near 23,823 after Tuesday’s 0.8% drop to 23,949, leaving the index below its 50-day moving average and testing fragile support.
- Investors are questioning stretched AI-driven valuations after warnings from top US bankers, while CME data show the probability of a December Fed cut falling to 65% from 94% a week earlier following Jerome Powell’s remarks.
- Overseas leads turned negative with the Dow down 0.5%, S&P 500 off 1.2%, Nasdaq down 2.0%, Japan’s Nikkei closing 3.1% lower after steeper intraday losses, and South Korea tumbling as much as 6.2% as Chinese markets held steady.
- Haven demand lifted gold 0.8% to $3,964 per ounce, the euro hovered near $1.149, and Brent crude edged up to about $64.55 a barrel following recent OPEC+ guidance for a small December output increase and a pause in early 2026.
- Company updates added dispersion: Vonovia swung back to a €3.4 billion net profit, Siemens Healthineers guided EPS to €2.20–€2.40 with a €400 million tariff hit, and Fresenius raised its full-year operating outlook.