The DAX 40 fell about 0.3% to below 26,000 on Thursday, the lowest since late July, marking the fourth session of losses. Investors stayed cautious cautious amid inflation concerns and geopolitical uncertainty, despite a surprise move by the US Treasury that helped reduce pressure on government bonds worldwide. Negotiations to resolve the US-Iran conflict remained deadlocked, with the Trump administration turning away from military intervention and instead pursuing a strategy of intensified economic pressure on Tehran. Weakness in software, chemical and telecom stocks more than offset gains in autos, chipmakers and utilities companies.