FRANKFURT (dpa-AFX) - The Iran war intensified downward pressure on global stock markets on Tuesday. Rising oil and natural gas prices are fueling fears of recession and inflation. "The key factors for market sentiment are how much the conflict escalates, how long it lasts, how the other major powers respond to the attack, and how much energy prices rise," commented Chris Iggo of BNP Paribas Asset Management.
Germany's benchmark DAX accelerated its decline, closing down 3.44 percent at 23,790.65 points. The sharp drop below both the 100- and 200-day moving averages also clouded the long-term chart outlook. After two days of heavy losses, the gains since the start of the year have now turned into a clear deficit. The MDAX of mid-cap stocks also slid a further 3.44 percent to 29,801.02 points on Tuesday.
The Eurozone's blue-chip index, the EuroStoxx 50, ended trading 3.6 percent lower. Investors in London and Zurich also had to absorb further losses. On US stock markets, which had shown relative resilience at the start of the week, prices fell sharply with a one-day delay, though not as severely as in Europe.
Investors remain concerned about an energy crisis due to the American-Israeli war against Iran. Since Monday, the DAX has been closely tied to gas prices: when gas prices rise, stock prices fall; when gas prices ease, stock prices stabilize somewhat.
Exports of liquefied natural gas from Qatar and the United Arab Emirates would have accounted for about one-fifth of global supply in 2025, wrote Nitesh Shah of asset manager WisdomTree. "They must pass through the Strait of Hormuz. Any disruption would therefore have global consequences," said the commodities expert. Even temporary outages would significantly worsen the global supply situation.
Beiersdorf shares were the biggest loser in the DAX, plunging more than 20 percent to a four-year low. The consumer goods group expects only minimal growth in 2026, which was met with a negative response from analysts.
Deutsche Börse shares were the only gainers in the DAX on Tuesday, rising 2.1 percent. They continued to benefit from increased volatility in the financial markets. Two investment banks issued new buy recommendations.
Kion led the losers in the MDAX with a price drop of 8.7 percent. The bank Exane BNP Paribas withdrew its buy rating for the logistics equipment manufacturer's shares.
Schaeffler shares plunged almost 22 percent after a disappointing annual outlook, putting them at the bottom of the small-cap SDAX index. In addition, high one-off charges from restructuring and job cuts in 2025 once again resulted in losses.
Shares of SMA Solar performed significantly better than the SDAX, falling only 2.3 percent. Although analysts criticized the cautious earnings outlook, a new buy recommendation from investment bank Jefferies supported the solar company's shares./gl/jha/
--- By Gerold Löhle, dpa-AFX ---
