FRANKFURT (dpa-AFX) - The Dax resumed its downward trajectory on Tuesday, following a brief pause at the start of the week. The unresolved conflict in the Middle East continues to keep nerves frayed, noted Andreas Lipkow, Chief Market Analyst at CMC Markets. Elsewhere, the ongoing corporate earnings season dominated the landscape with a flood of quarterly results.
Dragged down by weakness in U.S. markets, the German benchmark index extended its losses, finishing the session down 1.62 percent at 23,954.93 points. The slide below the 24,000-point threshold further clouded the technical outlook. Only last week, optimism regarding an agreement between the U.S. and Iran had propelled the index to over 25,150 points, its highest level since the start of the war. However, according to U.S. President Donald Trump, the ceasefire between the two countries is now hanging by a thread.
The MDax, which tracks mid-cap stocks, closed 1.39 percent lower at 31,010.38 points. The Eurozone benchmark EuroStoxx 50 dropped 1.5 percent. Losses in London were more moderate, while Zurich managed a slight gain. In New York, the tech-heavy Nasdaq saw a significant decline: the Nasdaq 100 fell 1.8 percent by the close of European trading, while the Dow Jones Industrial Average shed only 0.5 percent./gl/he
