Snapshot: The DAX 40 is trading down 1.29% at 24671, pressured by a renewed sell-off in chipmakers and AI-exposed stocks. Infineon Technologies and Siemens Energy are leading the decline, with mounting concerns over the rising cost of AI infrastructure acting as a key catalyst. Today’s session is dominated by this tech fragility, overshadowing any domestic ECB commentary.
- The German index is testing support around the 24,500 level, a key area to watch for potential capitulation or a bounce.
- We’ll be monitoring US 08:30 ET data releases for any signs of broader economic stress that could exacerbate the current risk-off sentiment.
Bias into NY: The bias remains to the downside into the New York open, given the persistent tech weakness and the lack of a clear domestic counter-narrative. A break below 24,500 could open the door for further declines towards 24,000.