DAX Down for 2nd Day Amid Oil Price Fears and ECB Rate Hike

The DAX 40 index fell for a second consecutive day on Tuesday, closing down 0.3% to around 25,930.

This decline was in line with other European markets and was largely driven by persistently high oil and gas prices amid ongoing hostilities in the Middle East.

The current inflation worries ahead of this week's European Central Bank meeting are also contributing to market concerns.

The ECB is expected to raise borrowing costs by another 25 basis points to 2.5% on Thursday, marking its second rate hike this year.