Germany’s DAX gave up its early gains to close about 0.5% lower at 24,175 on Friday, as European markets followed the US amid renewed concerns over tech valuations. This came despite the Fed signaling a possible rate cut in 2026 following its recent easing move. Among individual stocks, the biggest laggards were Siemens Energy (-4.2%), Deutsche Bank (-3.1%), Commerzbank (-2.1%), and Merck (-1.1%). On the upside, Adidas and Puma led gains, rising 2.3% and 2.4% respectively, on the back of US peer Lululemon Athletica’s strong profit report and plans to appoint a new CEO. Other notable performers included E.ON (+2%), Brenntag (+1.4%), Hannover Ruck (+0.9%), Volkswagen (+0.9%) and Rheinmetall (+0.9%). For the week, the DAX added 0.6%, notching its third weekly rise.