Surprising Augsburg hands Bayern Munich first defeat in the Bundesliga

BERLIN (AP) — The best team in Germany is not necessarily the best in Bavaria.

Bayern Munich slumped to its first Bundesliga defeat of the season by 2-1 at home to Bavarian rival Augsburg on Saturday, when Bayern star Michael Olise struck the crossbar with the last kick of the game.

It’s the first time Bayern has failed to gather at least a point in the league since March 8 in a 3-2 defeat at home to Bochum.

“I wouldn’t say the defeat was absolutely deserved. That might be too much but it also wouldn’t have been deserved if we had won,” Bayern midfielder Joshua Kimmich said. “So in a way, it’s acceptable, even though it’s extremely annoying for us to have lost a Bundesliga match. The crucial thing will be our reaction to it.”

Augsburg ended Bayern's record 53-game unbeaten run in the Bundesliga in April 2014, and on Saturday the same club also ended Bayern's next longest unbeaten run at 27 games.

With 50 points and a goal difference of plus-57, Bayern had already made the best ever start to the Bundesliga after 18 rounds.

Augsburg, only three points from the relegation zone before the match, hadn’t won a game since early December. And Manuel Baum’s team had to come from behind in Munich after Hiroki Ito opened the scoring with a header to Olise’s corner in the 23rd minute.

“We spoke all week about we had to believe in ourselves because no one else did, perhaps justifiably so,” Augsburg midfielder Robin Fellhauer said. “We thought of a plan and it actually worked. We wanted to be well positioned, not allow much, have a bit of luck now and then, and then keep making moves forward.”

Bayern missed further good chances and the first half ended with Fellhauer striking the crossbar for Augsburg.

The visitors pushed hard for an equalizer in the second half and Arthur Chaves duly got it with the back of his head to a corner that Bayern goalkeeper Jonas Urbig failed to reach in the 75th.

Han-Noah Massengo scored what proved to be the winner six minutes later when Dimitrios Giannoulis surged down the left and crossed into the middle to pick him out.

“Unbelievable. There’s still a bit of disbelief in the locker room because nobody really knows what just happened and that we actually did it,” Fellhauer said.

Borussia Dortmund capitalized on Bayern’s loss with a 3-0 win at Union Berlin that cut the leader’s comfortable advantage to eight points with 15 rounds remaining.

Emre Can tucked away an early penalty, Nico Schlotterbech headed the second goal from a corner early in the second half, and Maximilian Beier sealed the win late with a low shot inside the far post.

Eintracht Frankfurt’s habit of conceding three goals continued in a 3-1 loss at home to high-flying Hoffenheim. Frankfurt, which fired coach Dino Toppmöller last weekend, has conceded three goals in all five games it has played in 2026.

Former Real Madrid star Lucas Vázquez scored his first goal for Leverkusen to prevail 1-0 over Werder Bremen. It snapped Leverkusen's three-game losing streak across all competitions.

Leipzig won at relegation-threatened Heidenheim 3-0, and Mainz’s improvement under new coach Urs Fischer continued in beating Wolfsburg 3-1.

AP soccer: https://apnews.com/hub/soccer

Frankfurt's Ayoube Amaimouni-Echghouyab, front, in a duel with Hoffenheim's Albian Hajdari during the German Bundesliga soccer match between Eintracht Frankfurt and Hoffenheim in Frankfurt, Saturday, Jan. 24, 2026. (Marc Schüler/dpa via AP)

Leverkusen's Patrik Schick challenges for the ball with Bremen's Karim Coulibaly during the German Bundesliga soccer match between Bayer Leverkusen and Werder Bremen in Leverkusen, Germany, Saturday, Jan. 24, 2026. (AP Photo/Martin Meissner)

Augsburg's Arthur Chaves, 3rd left, scores their first goal of the game during the German Bundesliga soccer match between Bayern Munich and FC Augsburg in Munich, Saturday, Jan. 24, 2026. (Peter Kneffel/dpa via AP)

Bayern's Harry Kane in action during the German Bundesliga soccer match between Bayern Munich and FC Augsburg in Munich, Saturday, Jan. 24, 2026. (Peter Kneffel/dpa via AP)

Augsburg's goalkeeper Finn Dahmen in action during the German Bundesliga soccer match between Bayern Munich and FC Augsburg in Munich, Saturday, Jan. 24, 2026. (Peter Kneffel/dpa via AP)

NEW YORK (AP) — Most U.S. stocks are falling Wednesday as the price of oil gets back to rising.

The S&P 500 slipped 0.3% in a second day of modest moves following what had been a wild stretch caused by the war with Iran. The Dow Jones Industrial Average was down 400 points, or 0.8%, with roughly an hour remaining in trading, and the Nasdaq composite was 0.2% lower.

Since the start of the war, sharp moves for oil prices have triggered swings up and down for financial markets worldwide, sometimes by the hour. Oil prices briefly spiked to their highest levels since 2022 this week because of the possibility that production in the Middle East could be blocked for a long time, which in turn raised worries about a surge of debilitating inflation for the global economy.

The International Energy Agency said Wednesday that its members will release a record amount of oil, 400 million barrels, from stockpiles they’ve set aside for emergencies. Such moves push downward on oil prices in the near term, but it will likely require a full resumption of the flow of oil and natural gas from the Persian Gulf area to fully ease the market. That has investors worldwide anxiously awaiting the end of the war.

The price for a barrel of Brent crude, the international standard, rose 4.8% to settle at $91.98. A barrel of benchmark U.S. crude gained 4.6% to settle at $87.25.

Worries are centered on the Strait of Hormuz, a narrow waterway off Iran’s coast where a fifth of the world’s oil sails on a typical day. The war has halted most of that traffic, which means storage tanks for crude in the region are filling up because the oil has nowhere else to go. That in turn is pushing oil producers to say they’re cutting their output.

The United States said it took out more than a dozen minelaying Iranian vessels Tuesday, and the Islamic Republic vowed to block the region’s oil exports, saying it would not allow “even a single liter” to be shipped to its enemies.

All this is happening at a time when inflation was already relatively high in the United States. A report released Wednesday showed that U.S. consumers paid prices for groceries, gasoline and other costs of living that were 2.4% higher in February than a year earlier.

To be sure, that inflation rate was the same as the prior month's and better than the 2.5% that economists expected, but it remains above the 2% target the Federal Reserve has set for the economy. It also doesn’t include the spike in gasoline prices that’s happened this month because of the war.

“Looking forward, we expect a spring bulge in inflation due to the spike in energy prices tied to the Iran war, the duration of which will dictate the landing spot for headline inflation by year end,” according to Gary Schlossberg, global strategist at Wells Fargo Investment Institute.

High inflation combined with a stagnating economy would create a worst-case scenario called “stagflation” that the Federal Reserve has no good tools to fix. Stagflation fears are rising not just because of higher oil prices but also because of weakness in hiring by U.S. employers.

On Wall Street, the majority of stocks fell. Campbell’s sank 6.7% after the soup company reported a weaker profit for the latest quarter than analysts expected. It was hurt by struggles for its snack business, and it cut its forecasts for revenue and profit this fiscal year.

Helping to limit Wall Street's losses was Oracle, which jumped 8.3%. The tech giant reported stronger profit and revenue for the latest quarter than analysts expected. It also raised its forecast for revenue growth next fiscal year, in part because of demand for cloud computing for artificial-intelligence training and inferencing.

In stock markets abroad, indexes fell in Europe following better performances in Asia. Germany's DAX lost 1.4%, while Japan’s Nikkei 225 rose 1.4%.

In the bond market, Treasury yields rose because of the upward pressure from higher oil prices. The yield on the 10-year Treasury climbed to 4.20% from 4.15% late Tuesday. Higher yields crank up the pressure on other investments, pushing downward on their prices.

Because of the spike for oil prices, traders have pushed back forecasts for when the Fed could resume its cuts to interest rates. President Donald Trump has been angrily calling for such cuts, which would give the economy and job market a boost but also potentially worsen inflation.

AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

Traders work on the floor at the New York Stock Exchange in New York, Tuesday, March 10, 2026. (AP Photo/Seth Wenig)

Gennaro Saporito works on the floor at the New York Stock Exchange in New York, Friday, March 6, 2026. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Friday, March 6, 2026. (AP Photo/Seth Wenig)

Federico DeMarco works on the floor at the New York Stock Exchange in New York, Tuesday, March 10, 2026. (AP Photo/Seth Wenig)

Drew Cohen works on the floor at the New York Stock Exchange in New York, Tuesday, March 10, 2026. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Tuesday, March 10, 2026. (AP Photo/Seth Wenig)

Currency traders work at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, March 10, 2026. (AP Photo/Ahn Young-joon)

A currency trader passes by a screen showing the Korea Composite Stock Price Index (KOSPI), rear center, and the foreign exchange rate between U.S. dollar and South Korean won, rear left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Tuesday, March 10, 2026. (AP Photo/Ahn Young-joon)