European markets experienced a downturn on Tuesday, with the DAX index closing at 23,487 points, a 23 percent decrease from the previous day’s close Throughout the trading day, losses steadily accumulated
Market analyst Andreas Lipkow noted that September appears to be living up to its reputation as a historically weaker month for markets He indicated that US stock markets opened significantly lower following the extended Labor Day weekend, prompting investor nervousness given relatively high valuations Lipkow also observed that market participants are closely watching for any indications suggesting potential interest rate cuts in the United States
By late afternoon trading, only shares of Rheinmetall and Symrise showed gains Notably, Infineon, FMC, Siemens Energy and Vonovia were among the worst performers
Energy markets presented a mixed picture Natural gas prices fell, with a megawatt-hour for October delivery trading at 23 euros, a 2 percent decrease This pricing suggests a potential consumer price of around eight to nine cents per kilowatt-hour including associated costs and taxes, should the current levels hold
Conversely, oil prices saw a notable increase Brent crude traded at $6885 per barrel in the late afternoon, a gain of 70 cents, or 10 percent, from the previous session’s close
The Euro also experienced a slight weakening against the US Dollar, trading at 11654 US dollars, while the dollar was valued at 08581 Euros