The DAX 40 was down for a second session on Tuesday, falling 0.3% to around 25,930, in line with its European peers. Persistently high oil and gas prices amid continued hostilities in the Middle East fueled inflation worries ahead of this week’s European Central Bank meeting. The ECB is expected to raise borrowing costs by another 25 basis points to 2.5% on Thursday, which would mark the second rate hike this year. The technology sector was the hardest hit, alongside banks, insurers and industrials. Infineon Technologies slumped nearly 3%, making it the worst performer, following a downgrade by Morgan Stanley to "equal weight" from "overweight".