German DAX Slides as US Markets โSurge on AIโ Gains – September 10, 2025
Frankfurt,โข Germany – โคThe German stock market closed lower Wednesday,โ with the โค DAX falling 0.4 percent to โ23,633 points, a contrast toโข the bullish momentum seen in US markets fueledโค by strong performance in the artificial intelligence sector. โคwhile the S&P 500 continues to climb, European investors showed reluctance ahead of key central bank decisions.
The US โmarket’s gains were especially driven by Oracle, whose share price soared over 41 percent following the release of itsโข quarterly figures. This โsurge increased Oracle’s marketโ capitalization by over $280โ billion in a single day – exceeding SAP‘s current market capitalizationโ of approximately $315 billion. Oracle, a former competitor to SAP, has significantly expanded its focus on AI technologies.
The DAX currently lacks companies โwith comparable scale andโ AI investment.Analysts suggest that while German competitors faceโฃ challenges keeping pace with US technologyโ giants given their financial resources โand favorable business surroundings, long-term successโฃ remains possible.
Adding to the cautious sentiment, upcoming centralโค bank meetings are weighing on European โmarkets. The European Central Bank (ECB) โขwill announce its interest rate decision on Thursday,followed by โmeetings of the US Federal Reserve andโข the Bank of England next week.โ
Political uncertainty inโข France also contributedโ to โinvestor โhesitation, with concernsโค that economic or banking disruptions in theโ country could impact โฃbroader European markets.Within the DAX, Siemens Energy and Rheinmetall led the gains, โrising 4.1 and almost 3 percent respectively.โ SAP lagged,โฃ falling 2.8 percent โฃfollowing โcomments from SAP-CFO Dominik Asam. JP Morgan โฃ analysts noted that macroeconomic headwinds experienced in the second quarter are expected โฃto persist into the third, possiblyโ delaying contracts andโฃ impacting sales for the remainder of the year.They indicated that 2026 may prove “a little more difficult,” though improvements are possible. Despite these โคshort-term challenges, JP Morgan maintains a positive outlook on SAP’s long-term growth potential, particularly throughโ its AI-driven product development.