BRUSSELS (dpa-AFX) - German stocks plunged sharply on Wednesday as escalating tensions in the Middle East pushed up oil prices and triggered inflation and rate concerns, prompting investors to exit counters.
Bond yields moved higher as well. The yield on Germany's 10-year Government bond rose 3.077% this morning.
Oil prices rose more than 6% after U.S. President Donald Trump declared at the NATO Summit that the Iran ceasefire 'is over,' raising fears of a larger conflict with Iran and Strait of Hormuz disruptions.
Brent crude futures shot up to nearly $79 a barrel, while WTI crude futures climbed up 6.5% to about $75 a barrel.
Meanwhile, Tehran launched strikes on Bahrain and Kuwait, fueling concerns of a wider conflict in the Middle East region.
Germany's benchmark index DAX, which tumbled to 24,826.78, was down 622.62 points or 2.44% at 24,866.64 a little while ago.
Deutsche Bank tumbled 5.7% and Vonovia dropped 5.3%. Zalando, Heidelberg Materials, Adidas, SAP, Hochtief, Continental, MTU Aero Engines, Volkswagen, Mercedes-Benz, BMW, Infineon Technologies and Rheinmetall declined 3%-4.5%.
Siemens, Gea Group, Qiagen, Symrise, Fresenius, Deutsche Post, Allianz, Daimler Truck Holding and Bayer lost 2%-2.7%.
Brenntag and E.ON moved up 1.7% and 1.3%, respectively. BASF climbed 0.85%, while RWE edged up marginally.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
