FX.co ★ DAX Falls for Second Session

Frankfurt’s DAX 40 slipped 0.8% to below 24,900 in early Thursday trading, extending the previous session’s losses as rising oil prices intensified inflation worries. Crude gained further after reports that the White House had asked the Pentagon to prepare strike options against Iran that could be executed before the US midterm elections, putting additional upward pressure on bond yields and dampening risk appetite. Market sentiment was also hurt by persistent weakness in Germany’s external demand, with exports declining 0.8% month-on-month in August. At the stock level, semiconductor producer Infineon was among the worst performers, dropping around 3%, while industrial shares also came under notable pressure.