Germany's DAX extended losses to close about 1.9% lower at five-month lows of 23,141 on Tuesday, the biggest daily decline since September 2. Global market sentiment was dampened by fears surrounding high tech valuations and uncertainty about the Fed's monetary policy, while traders awaited Nvidia's earnings and key US data due later this week. Almost all sectors saw declines, particularly technology companies and banks. Siemens Energy was the biggest laggard, down 6.5%, along with Infineon Technologies (-4.2%) and Siemens (-2.5%), while Commerzbank and Deutsche Bank shed about 4.5% each. Auto stocks and pharma companies also faced pressure. Meanwhile, Deutsche Borse stood out with a 2.7% gain after announcing plans to integrate Societe Generale’s stablecoins into its settlement infrastructure, marking one of the most significant steps to date towards the regulated adoption of stablecoins within the core financial infrastructure.