Frankfurt, Germany - The German stock market experienced a downturn on Tuesday due to heightened investor anxiety regarding the conflict between Israel and Iran. The DAX index fell by 0.8% to 23,508 points, reversing Monday's gains, while the MDax and EuroStoxx 50 also saw declines of 0.8%.
The early departure of US President Donald Trump from the G7 summit added to the uncertainty. This situation is compounded by the ongoing conflict in the Middle East. The DAX is now focusing on the 50-day moving average, which is currently around 23,300 points.
Fresenius Medical Care shares dropped by 4.5% due to disappointing capital market day results. Defense stocks, such as Rheinmetall, also declined, with a 1.8% decrease. Softbank's sale of T-Mobile US shares led to a 4.3% pre-market drop for T-Mobile and a 2.1% fall for Deutsche Telekom.
MTU, however, rose by 1.8% after increasing its annual forecast. The proposed tax credit changes for wind and solar energy by US Republicans negatively impacted wind and solar power stocks, with SMA Solar and Nordex declining by 3.6% and 1.7%, respectively.