DAX 40
BearishArchived analysis from Sep 1, 2026, 8:23 PM
Key insight
26,619 ATH rejected; two-day slide erases ~800pts — SAP -2.5%, banks -1%+, autos down as rising yields and oil inflate the ECB hawkish risk. Next key floor: 25,650 (Aug swing low).
Dropped 1.7% in two sessions from Aug 28 ATH of 26,619 — US-Iran conflict driving oil above $89 and German 10-yr yields to 15-year highs, squeezing the cyclical index hard.
Main risk
US-Iran Conflict & Oil Spike
Oil at $89.8 (+0.6% today) on active US-Iran strikes — every sustained $5/bbl rise adds ~15-20bps to ECB rate expectations, compressing DAX multiples.
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