Frankfurt’s DAX 40 fell more than 1.5% to around 25,300 on Friday afternoon, its lowest level since late July, as caution returned to markets ahead of the weekend. Trading was also likely influenced by the so-called “quadruple witching” session, when several major derivatives contracts expire simultaneously. Meanwhile, investors remained focused on developments in the Middle East ahead of next week’s summit between US President Donald Trump and Gulf-state leaders, which will be held on the sidelines of the United Nations General Assembly. Domestically, attention is turning to state elections in Berlin and Mecklenburg-Western Pomerania on Sept. 20, with the results set to provide another test of Chancellor Friedrich Merz’s leadership after the AfD’s strong showing in Saxony-Anhalt. Selling was broad-based across sectors, barring technology.