Stocks on the DAX decline, Bitcoin weakens: Porsche, BASF, Rheinmetall, Siemens Energy, Mowi, K+S, Nvidia receive attention
Bitcoin, the world's largest cryptocurrency, experienced a slight loss on Wednesday, trading at $113,554. The same trend was seen with gold and silver, as they also incurred slight losses.
In Europe, the DAX showed indications of losses on Wednesday, following a 0.5 percent gain on Tuesday, closing at 24,423.07 points. However, the private bank Berenberg's downgrade of K+S stock from "Buy" to "Sell" and lowering the price target from 17 to 11 euros caused significant pressure on the stock, which is currently trading at approximately €11.88. This is well below its 52-week high of €17.07 reached in June 2025.
Meanwhile, the tech-heavy Nasdaq 100 and S&P 500 showed losses in the US, with the Nasdaq losing 1.4 percent to 23,384.77 points, and the S&P 500 losing 0.6 percent to 6,411.37 points. The Dow Jones Industrial, on the other hand, gained 0.02 percent to 44,922.27 points.
In the US, tech stocks were significantly under pressure on Tuesday, with Nvidia being the weakest stock of the day in the Dow Jones, losing 3.5 percent.
On the other hand, the Japanese leading index Nikkei 225 lost 1.5 percent on Wednesday morning, while the CSI 300, the index with the most important Chinese mainland stocks, is losing 0.1 percent. The Hang Seng, the index of the Chinese special administrative region of Hong Kong, is recording a loss of 0.5 percent.
In the MDAX, HelloFresh was in high demand, while Verve was in the SDAX. On Tuesday, Porsche AG, Zalando, Brenntag, BASF, and Mercedes-Benz performed strongly.
Rheinmetall, Siemens Energy, and Vonovia were found at the bottom of the DAX on Tuesday. TAG Immobilien raised around 288.2 million euros through the issuance of new shares and bonds, with the approximately 12.5 million new shares placed at 14.90 euros each.
Geberit, Analog Devices, Alcon, Mowi, and Estée Lauder are among the companies set to report their quarterly earnings.
In positive news, Home Depot was the top gainer in the US on Tuesday. The troy ounce of gold is currently trading at $3,319, and the troy ounce of silver is trading at $37.21 on Wednesday morning.
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