DAX 40 Tumbles as ECB Rate Hike Hits German Equities

The DAX 40 index closed at 25,361.15 on Thursday, September 10, down 215.30 points or 0.84% on the day.

This decline made it the weakest performer among the three major European benchmarks, worse than both the FTSE 100's 0.57% drop and the CAC 40's 0.49% decline.

The index remains well below its 52-week high of 26,618.74, having pulled back sharply from levels above 25,600 touched earlier in the day.

A hawkish European Central Bank is a particular headwind for Germany's export-heavy industrial base, which is sensitive to both the cost of financing and the strength of the euro.