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German Stocks Drop for 3rd Day

The DAX fell 0.6% to below 23,200 in early trading on Thursday, extending declines for a third straight session and hitting its lowest level since early May, as speculation over potential US intervention in the Middle East rattled investors. Aerial attacks between Israel and Iran continued for a seventh day as President Donald Trump kept the world guessing about whether the US would join Israel in air strikes on Tehran. Meanwhile, the US Federal Reserve on Wednesday held interest rates steady on Wednesday and signaled a slower pace of future cuts. On the corporate front, notable decliners included SAP (-1.4%), Siemens Energy (-1.1%), Infineon (-1.5%), and Adidas (-1.3%).

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