Germany's DAX eased further to close about 1.5% lower at 24,242 on Friday, its lowest in over a week and retreating from recent peaks. Market sentiment weighed down by renewed US-China trade tensions and weakness in defense stocks following Gaza’s peace plan. US President Donald Trump said today there was no reason to meet with China’s Xi Jinping in two weeks in South Korea, while also signaling plans to raise tariffs on Chinese imports, after China expanded export controls on rare earth metals Thursday. In parallel, French political uncertainty kept traders on edge. On the corporate front, defense names Hensoldt and Renk were among the biggest decliners, dropping 4.6% and 3.7%, respectively, with Rheinmetall down 1.1%. Shares of Brenntag (-5%) dropped following UBS’s downgrade to ‘Sell’ and a reduction in its price target to €45 from €56, amid concerns over a weakening outlook. Vonovia was one of the few gainers, rising about 1%. For the week, the index fell 0.6%.