The DAX saw a significant decline on Friday afternoon. By 1 p.m., the index stood at 24,710 points on the Frankfurt exchange board, marking a substantial drop of 1.1 percent.
Among the major companies, Zalando, which had started the trading day around 9 percent lower due to an audit review by BaFin, managed to regain some ground, shrinking its losses to just over five percent as bargain hunters stepped in. However, Infineon and Siemens Energy saw their price losses widen to roughly four percent.
Market commentators suggest that investor sentiment remains highly nervous, with the technology sector and uncertainties surrounding new AI technologies driving market volatility.
Despite the stock market downturn, there were some mitigating factors. Concerns over interest rates appear to be easing, as the price of oil dropped sharply on Friday. A barrel of Brent crude from the North Sea was priced at $72.75 around 1 p.m. German time, representing a 3.3 percent decrease, or 251 cents, compared to the close of the previous trading day.
In currency markets, the European common currency was stronger on Friday afternoon. The Euro cost $1.1405, while the Dollar was consequently obtainable for 0.8768 Euros.
