German equities finished the session lower after the close on Tuesday, pressured by declines in the Technology, Consumer & Cyclical and Insurance sectors. The benchmark DAX slipped 3.59%, landing at a new one-month low. Two other gauges also moved lower: the MDAX fell 3.45% and the TecDAX declined 2.89%.
Within the DAX, Deutsche Boerse AG (ETR:DB1Gn) was among the sessions few advancers, rising 2.10% - equivalent to 4.90 points - to close at 238.20. By contrast, Fresenius Medical Care KGAA ST (ETR:FMEG) eased 0.83%, or 0.33 points, finishing at 39.51, while SAP SE (ETR:SAPG) slipped 0.97% - down 1.62 points - to 165.48 in late trade.
Heavier losses hit a number of large-cap stocks. Beiersdorf AG O.N. (ETR:BEIG) plunged 20.13% - a decline of 21.09 points - to trade at 83.66 at the close, marking a move to three-year lows. Infineon Technologies AG NA O.N. (ETR:IFXGn) fell 6.16%, or 2.73 points, to end at 41.68. Bayer AG NA (ETR:BAYGN) also retreated, down 5.66% or 2.30 points to 38.31.
Movements in the mid-cap MDAX were mixed but skewed to the downside. The top performers included flatexDEGIRO AG (ETR:FTKn), which rose 2.44% to 31.92, TeamViewer AG (ETR:TMV), up 0.45% to 4.47, and Nemetschek AG O.N. (ETR:NEKG), which gained 0.37% to close at 67.70. On the down side, Kion Group AG (ETR:KGX) dropped 8.68% to 52.10, Wacker Chemie O.N. (ETR:WCHG) lost 7.84% to settle at 69.95, and Aumovio Se (ETR:AMV0n) declined 6.79% to 37.62 by the close.
The TecDAX, tracking technology-focused names, registered modest winners and several notable decliners. 11 AG (ETR:1U1) led gains with a 0.62% rise to 24.30. TeamViewer AG (ETR:TMV) and Nemetschek AG O.N. (ETR:NEKG) also posted small advances, closing at 4.47 and 67.70, respectively. Among the worst performers on the TecDAX were Evotec AG O.N. (ETR:EVTG), down 6.72% to 5.30, Infineon Technologies AG NA O.N. (ETR:IFXGn), which lost 6.16% to settle at 41.68, and Nordex SE O.N. (ETR:NDXG), falling 5.38% to 40.84.
At the exchange level, decliners outnumbered advancers by a wide margin: 528 stocks fell, 109 advanced and 20 ended unchanged.
Market breadth and volatility showed notable shifts. Beiersdorfs share price closed at three-year lows after the 20.13% drop. The DAX volatility index, which measures implied volatility in DAX options, rose 15.12% to 21.34 - a three-month high.
Commodities and currency markets also moved sharply during the session. Gold futures for April delivery fell 4.06%, losing 215.56 to trade at $5,096.04 a troy ounce. Crude oil for April delivery rose 6.40%, an increase of 4.56, to hit $75.79 a barrel; the May Brent contract climbed 6.47%, up 5.03, to trade at $82.77 a barrel.
Currency moves included EUR/USD, which was down 0.80% to 1.16, while EUR/GBP was unchanged at 0.11%, trading at 0.87. The US Dollar Index Futures was higher by 0.83% at 99.15.
Wednesdays session will open with markets confronting elevated volatility and wide sector dispersion. The losses concentrated in technology, consumer discretionary and insurance components of the DAX and related indices were the primary drivers of the decline, while energy-related commodities and the dollar moved in opposite directions during the session.
Summary and takeaways are provided below for quick reference.