DAX Erases Early Gains, Falls Nearly 0.5% as Auto Stocks Drag Despite Strong PMI

Germany's DAX index reversed early gains and slid nearly 0.5% in morning trade on September 23, 2026, as weakness in auto stocks overshadowed upbeat economic data. The pullback came despite flash figures showing German private sector activity expanded in September at its fastest pace in more than two years, a signal of accelerating momentum in Europe's largest economy. Automakers led the decline, pressuring the benchmark index even as the stronger-than-expected PMI reading pointed to resilient business activity. The intraday reversal highlighted investor caution, with gains fading quickly after the open. No specific stock symbols or additional financial figures were disclosed in the report.