Tech sell-off pushes DAX down 1.1% – Qiagen and SAP buck the trend
The benchmark index fell 1.07% to 25,371.75 points on Thursday. Chip and AI stocks such as Siemens Energy and Infineon slumped. Qiagen rose on a takeover offer. IG sees the DAX slightly lower.
The DAX benchmark index (Germany's 40 largest listed companies) lost 1.07% to 25,371.75 points on Thursday. The day before, it had reached a four-week high. The MDAX of mid-sized companies fell 1.84% and the Euro Stoxx 50 of large euro-area companies 1.94%. The SDAX of smaller companies also fell clearly, while the tech index TecDAX slipped only slightly.
According to dpa-AFX, quarterly results from Tesla, Meta and IBM failed to restore confidence in the tech sector. Tesla plans to invest less than announced. Investors doubt whether the huge AI spending will pay off. Oil prices also rose sharply again after an attack on a Saudi oil field. Companies that benefit from the AI boom were hit hardest: Siemens Energy (−8.6%), Infineon (−6.0%), Hochtief and Siemens.
Against the trend, Qiagen rose 4.9%. Swedish investment firm EQT, together with two state and pension funds, is offering 46.50 euros per share – 10.8 billion euros in total. SAP gained 3.2% after its quarterly results, Sartorius about 4.8% after strong nine-month figures. Krones (MDAX) fell 3%: the machine maker now expects only 1 to 2% revenue growth in 2026 instead of 3 to 5%.
For Friday, broker IG indicates the DAX 0.2% lower at 25,328 points, according to dpa-AFX. In the US, the tech-heavy Nasdaq 100 fell almost 3% in the evening. At 9:30, Germany's purchasing managers' indices (a gauge of business mood) are due. The ECB's euro reference rate was 1.1205 dollars on Thursday (Wednesday: 1.1234).
| Index | Close | Day % |
|---|---|---|
| DAX | 25,371.75 | −1.07 % |
| MDAX | 30,085.87 | −1.84 % |
| SDAX | 18,198.60 | −1.54 % |
| TecDAX | 4,060.43 | −0.18 % |
| Euro Stoxx 50 | 6,087.01 | −1.94 % |
| Company | Day % | Reason |
|---|---|---|
| Qiagen | +4.94 % | EQT takeover offer: 46.50 euros per share |
| SAP | +3.21 % | results above expectations, stronger cloud growth |
| Scout24 | +3.19 % | not stated |
| Deutsche Börse | +2.99 % | not stated |
| Merck KGaA | +2.88 % | not stated |
| Siemens | −4.14 % | selling in AI beneficiaries |
| MTU Aero Engines | −4.18 % | not stated |
| Hochtief | −4.71 % | selling in AI beneficiaries |
| Infineon | −6.04 % | chip stock sell-off |
| Siemens Energy | −8.56 % | selling in AI beneficiaries |
| Company | Day % | Reason |
|---|---|---|
| Sartorius (pref.) | +4.75 % | strong nine-month results, guidance confirmed |
| Vossloh (SDAX) | +1.76 % | nine-month profit up 19.6% |
| Krones | −3.00 % | 2026 revenue forecast and 2028 target cut |
| Flatexdegiro | −6.10 % | Q3 slightly below expectations |
| Elmos Semiconductor (TecDAX) | −7.96 % | chip stock sell-off |
| PVA TePla (SDAX) | −8.38 % | chip stock sell-off |
| Siltronic (TecDAX) | −8.70 % | chip stock sell-off |
| Aixtron (TecDAX) | −9.76 % | chip stock sell-off |
| Metric | Value |
|---|---|
| Qiagen: offer by EQT (with ADIA and CPP Investments) | 46.50 euros per share, in cash |
| Qiagen: total value (incl. debt) | 10.8 billion euros |
| Qiagen: premium to early-July price | about 40% |
| Qiagen: condition | more than 50% of shares; then delisting |
| Krones: 2026 revenue growth (at constant currency) | 1–2% (previously 3–5%) |
| Krones: 2028 revenue target | 6.0–6.2 billion euros (previously about 7 billion) |
| Krones: medium-term EBITDA margin | 11–12% (upper end cut by 1 point) |
| When | Event |
|---|---|
| 06:30 | Holcim: Q3 results |
| 07:00 | Atoss Software: Q3 results; Sika, SGS, Sodexo |
| 07:00–07:45 | Volvo Cars, Volvo AB, Eni: Q3 results |
| 08:00 | Germany: construction orders (August); UK: retail sales |
| 09:30 | Germany: PMIs (October, flash) |
| 10:00 | Euro area: PMIs (October, flash) |
| 12:30 | Russia: central bank rate decision |
| 13:00 | American Express: Q3 results |
| 15:45 / 16:00 | US: PMIs; University of Michigan consumer sentiment |
| during the day | Moody's: France credit rating; EU review deadline for JD.com/Ceconomy |
For information only, not investment advice. Prices as of the time stated, not real-time quotes.
Sources
- dpa-AFX via ARIVA: ROUNDUP/Aktien Frankfurt Schluss – US-Tech-Branche versetzt Dax neuen Dämpfer (22.10.2026)
- dpa-AFX via ARIVA: Aktien Frankfurt Schluss – US-Tech-Branche versetzt Dax neuen Dämpfer (22.10.2026, 17:46)
- Dow Jones via MarketScreener: XETRA-SCHLUSS/Leichter – SAP widersetzen sich Technologie-Abverkauf (22.10.2026)
- finanzen.net: Schwache Performance in Frankfurt – DAX beendet den Donnerstagshandel mit Verlusten (22.10.2026, 17:57; Gewinner/Verlierer)
- finanzen.net: SDAX zeigt sich zum Ende des Donnerstagshandels leichter (22.10.2026, 17:57)
- finanzen.at: Handel in Frankfurt – TecDAX schließt mit Verlusten (22.10.2026, 17:58)
- Reuters via onvista: Investor EQT bietet 10,8 Mrd Euro für Dax-Konzern Qiagen (22.10.2026, 06:46)
- dpa-AFX via ARIVA: ROUNDUP – Maschinenbauer Krones dämpft seine Umsatzerwartungen (22.10.2026, 15:02)
- Deutsche Bundesbank: Euro-Referenzkurse der EZB (Tageskurse bis 22.10.2026)
- dpa-AFX via onvista: DAX-FLASH – Leichte Verluste nach Tech-Ausverkauf in den USA (23.10.2026)
- dpa-AFX via finanzen.net: TAGESVORSCHAU – Termine am 23. Oktober 2026
- Dow Jones via finanzen.at: TAGESVORSCHAU/Freitag, 23. Oktober (vorläufige Fassung, 22.10.2026)
