Tech Selloff Weighs on DAX

2026-06-23 08:10 By Luisa Carvalho 1 min. read

The DAX 40 fell more than 1% to around 24,800 on Tuesday, giving back the previous session’s gains, amid a global tech selloff and as investors awaited updates on US-Iran peace talks.

Tech and chip stocks were hit by heavy selling on concerns over high valuations, AI spending and rising expectations of Fed tightening.

On the economic data front, Germany's private sector contracted for the third month and at a solid pace in June, pointing to continued strain on Europe's largest economy from weak global demand, high energy costs, and ongoing supply chain disruptions.

Infineon Technologies dropped over 4% and led losses among stocks.

Siemens Energy (-4%), Hochtief (-3%) and Volkswagen (-2.4%) also fell significantly.

Vonovia SE declined more than 2% following the announcement of a convertible bond issue, while RWE AG fell 1.4% after confirming plans to acquire a majority stake in Amprion.



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Tech Selloff Weighs on DAX
The DAX 40 fell more than 1% to around 24,800 on Tuesday, giving back the previous session’s gains, amid a global tech selloff and as investors awaited updates on US-Iran peace talks. Tech and chip stocks were hit by heavy selling on concerns over high valuations, AI spending and rising expectations of Fed tightening. On the economic data front, Germany's private sector contracted for the third month and at a solid pace in June, pointing to continued strain on Europe's largest economy from weak global demand, high energy costs, and ongoing supply chain disruptions. Infineon Technologies dropped over 4% and led losses among stocks. Siemens Energy (-4%), Hochtief (-3%) and Volkswagen (-2.4%) also fell significantly. Vonovia SE declined more than 2% following the announcement of a convertible bond issue, while RWE AG fell 1.4% after confirming plans to acquire a majority stake in Amprion.
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