Frankfurt's DAX 40 fell more than 1% on Thursday, trading below 25,000 for the first time since July 23, as investors faced higher oil prices and elevated bond yields at the start of the fourth quarter. Geopolitical risks remained high because diplomatic efforts to resolve the Middle East conflict appeared stalled, although energy flows from the Gulf showed signs of improvement. Recent inflation data from European economies pointed to intensifying price pressures, increasing pressure on the ECB (European Central Bank) to maintain tighter monetary policy for longer. Banks, software companies, and pharmaceutical and healthcare stocks led broad sector losses, while technology shares moved against the wider decline.