BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The DAX benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange declined on Tuesday as worries about the outcome of U.S. elections, lingering fears about elevated AI valuations, and geopolitical tensions in the Middle East dampened sentiment.
The DAX benchmark has slipped 0.60 percent overnight to trade at 25,824.87, versus 25,981.09 at the previous close. The day's trading ranged between a low of 25,677.86 and a high of 25,853.22.
In the 40-scrip index, only 15 scrips are trading in the overnight positive territory. Healthcare business Bayer topped with gains of 4.3 percent. Fresenius Medical Care also rallied 2.5 percent.
SAP led losses with a drop of 2.8 percent. MTU Aero Engines slipped 2.6 percent. Adidas as well as Airbus followed with declines of close to 2 percent.
Amidst anxiety ahead of the high-stakes midterm elections in the U.S., the greenback has strengthened. The six-currency Dollar Index has rallied 0.11 percent overnight and is currently trading at 101.85, after ranging between 101.62 and 101.88. The index had closed at 101.75 on Monday. In tandem, the EUR/USD pair has slipped 0.05 percent to 1.1178 after ranging between 1.1237 and 1.1149. The EUR/GBP pair is trading 0.07 percent lower at 0.8336. Meanwhile, the EUR/JPY pair has rallied 0.23 percent and is currently trading at 176.93.
Ten-year German bond yields have increased, aligning with the trend in much of Europe. Yields are currently at 3.3338 percent, spiking 1.27 percent overnight from 3.2921 at the previous close. Yields ranged between 3.3366 percent and 3.3047 percent in the day's trading.
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