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31.08.202608:01:11UTC+00DAX on Negative Note

The DAX 40 declined about 0.7% to around 23,390 on Monday, breaking a four-day winning streak that had lifted the index to record highs last week and leaving it behind most other major European benchmarks. Risk sentiment deteriorated amid renewed US–Iran strikes in the Middle East and a hawkish inflation message from Federal Reserve Chair Kevin Warsh in his Friday address at Jackson Hole, which helped drive both oil prices and bond yields higher.

On the macroeconomic front, investors focused on the latest inflation data releases. Most sectors traded lower, with industrials leading the declines. Siemens Energy was the worst performer on the index, losing more than 4%, while MTU Aero Engines and Heidelberg Materials each shed over 1%.

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