The DAX closed Monday down 0.11% at 26,106.60, holding above the 26,000 mark despite a softer session. The index remains 1.7% below its March 8 record high of 26,574.06, with traders citing a heavy week of catalysts that could disrupt the recovery path.
U.S. Treasury Secretary Scott Bessent is scheduled to unveil new sanctions against Iran on Monday, targeting the Strait of Hormuz amid concerns over global oil supply disruptions. The move follows heightened regional tensions and could influence energy-linked equities and broader risk sentiment.
Semiconductor stocks came under pressure after Asian and U.S. tech benchmarks weakened. Infineon and Süss MicroTec both fell 3.2% and 6.0%, respectively, while Siemens Energy dropped 3.0%. Despite their exposure to AI-driven data center demand, these names were sold off alongside broader semiconductor weakness. Volkswagen also declined 1.6% as CEO Oliver Blume warned of deep restructuring measures amid a prolonged downturn in the global auto sector, with multiple plant-level meetings planned across Germany.
The MDax of mid-cap stocks slipped 0.25% to 32,031.55, while the Euro Stoxx 50 fell 0.22% to 6,447.98. Outside the euro area, the Swiss SMI closed modestly lower and London’s FTSE 100 edged up. In New York, the Dow Jones Industrial Average rose slightly by the European close, but the tech-heavy Nasdaq 100 posted steeper losses.
Investor focus is intensifying ahead of Nvidia’s quarterly results on Wednesday after U.S. markets close, with analysts highlighting the report as a critical read on AI infrastructure spending and data center trends. CMC Markets strategist Andreas Lipkow noted, “The biggest unknown this week is clearly Nvidia’s quarterly numbers and guidance, which will provide key signals on the trajectory of AI-related capital expenditure.”
Federal Reserve Governor Kevin Warsh is also scheduled to speak at the Jackson Hole Economic Symposium on Friday, where remarks on monetary policy could influence interest rate expectations. U.S. consumer price data due Wednesday will further shape market pricing for potential Federal Reserve easing later this year.
In corporate news, Qiagen shares initially surged after the appointment of Jonathan Pratt as CEO effective September 2026, but gave up gains to close 3.1% lower. The diagnostics firm also reaffirmed its outlook. Meanwhile, OHB, a small-cap space and aerospace company, extended its decline with an 8.9% drop in the SDax, continuing a correction that followed the broader pullback in space-related equities after SpaceX’s much-anticipated but volatile market debut in May.
