在法兰克福，DAX指数周二下跌201点，跌幅0.83%。费森尤斯医疗（-9.33%）、扎兰多（-2.94%）和阿迪达斯（-2.87%）领跌。抵消跌幅，涨幅最大的是拜尔斯道夫（1.46%）、德国商业银行（1.22%）和汉高（1.04%）。

In Frankfurt, the DAX Index dropped 201 points or 0.83 percent on Tuesday. Losses were led by Fresenius Medical Care (-9.33%), Zalando (-2.94%) and Adidas (-2.87%). Offsetting the fall, top gainers were Beiersdorf (1.46%), Commerzbank (1.22%) and Henkel (1.04%).

德国DAX指数周二收于23946点，下跌约0.8%，为10月17日以来的最低水平，扭转了本周初的积极情绪。由于市场不确定性持续存在，获利回吐主导了交易，美国政府停摆停止了关键经济数据的发布，美联储官员对利率表达了不同看法。与此同时，投资者在消化新一批企业收益的同时，质疑最近人工智能驱动的反弹的可持续性。费森尤斯医疗是最大的输家，尽管报告了令人惊讶的强劲第三季度业绩，但由于对主要股东费森尤斯·SE潜在配股的担忧，该公司股价下跌了近10%。其他值得注意的下跌股包括阿迪达斯、Zalando、巴斯夫和莱茵金属，每股跌幅均超过2.5%。另一方面，拜尔斯多夫银行（+1.5%）和德国商业银行（+1.5%）表现最佳。

Germany's DAX closed about 0.8% down at 23,946 on Tuesday, the lowest level since October 17, reversing positive sentiment seen at the start of the week. Profit-taking dominated trading as market uncertainty persisted, with the US government shutdown halting key economic data releases and Fed officials expressing differing views on interest rates. At the same time, investors questioned the sustainability of the recent AI-driven rally while digesting a fresh batch of corporate earnings. Fresenius Medical Care was the top loser, sinking nearly 10%, despite reporting surprisingly strong Q3 performance, weighed down by concerns over a potential share placement by major shareholder Fresenius SE. Other notable decliners included Adidas, Zalando, BASF and Rheinmetall, each shedding over 2.5%. On the flip side, Beiersdorf (+1.5%) and Commerzbank (+1.5%) emerged as the top performers.

DE40指数降至23682.00点，为2025年9月以来的最低水平。在过去的4周里，德国股市指数（DE40）下跌了2.78%，在过去的12个月里上涨了23.08%。

DE40 decreased to 23682.00 Index Points, the lowest since September 2025. Over the past 4 weeks, Germany Stock Market Index (DE40) lost 2.78%, and in the last 12 months, it increased 23.08%.

德国DAX指数周二面临压力，下跌超过1.5%，至23760点左右，为9月下旬以来的最低水平，扭转了周一的温和涨幅。此次回调是在全球情绪谨慎的情况下发生的，因为企业盈利喜忧参半，对人工智能的热情消退削弱了风险偏好。与此同时，在欧洲央行上周四决定连续第三次保持关键利率不变后，拉加德的言论受到了广泛预期。所有行业均出现亏损。费森尤斯医疗领跌，该公司在第三季度公布了令人惊讶的强劲收入和收益，但其美国主要业务的增长持续疲软，随后下跌近6%。紧随其后的是英飞凌科技、Zalando、大陆集团、海德堡材料和阿迪达斯，各下跌约2%。

Germany's DAX came under pressure on Tuesday, falling more than 1.5% to around 23,760, a low level not seen since late September, reversing Monday's tepid gains. The pullback came amid a cautious global mood, as mixed corporate earnings and fading enthusiasm for AI dented risk appetite. Meanwhile, Lagarde’s remarks were widely anticipated, following the ECB’s decision last Thursday to keep key interest rates unchanged for a third consecutive meeting. All sectors were trading in the red. Losses were led by Fresenius Medical Care, which sank nearly 6%, after posting surprisingly strong revenue and earnings in Q3 but continuing sluggish growth in its key US business. It was followed closely by Infineon Technologies, Zalando, Continental, Heidelberg Materials and Adidas, each down around 2%.