Lowest level since February: Nervous stock market traders plunge DAX into red

Lowest level since February
Nervous stock market traders plunge DAX into red

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A start to the week to forget: There is not much left of the DAX’s annual gains so far. Various factors are putting pressure on the German leading index over the course of the day. The other indices are also losing ground.

The continued decline on the US stock markets and a sell-off on the Japanese stock market have put further pressure on the German stock market. In addition, the boom in artificial intelligence (AI) has suffered another setback. Investors’ nervousness has increased. It is again similar to what it was during the Corona crisis, the market said, with regard to the range of price fluctuations.

Ultimately, the DAX lost 1.82 percent to 17,339.00 points, recovering significantly from its daily low of around 17,025 points. However, it remains the lowest level for the German stock market barometer since February. In the three trading days since the beginning of August, the DAX has now lost just over six percent. 3.5 percent of its annual gain so far remains.

On the Asian stock exchanges, technology stocks suffered in particular from a report according to which the AI ​​flagship Nvidia is postponing the launch of new chips due to defects. As a major beneficiary of the AI ​​boom, Nvidia had triggered this year’s rally on the US technology exchange Nasdaq.

DAX DAX
DAX 17,339.00

The fear of a recession in the United States is also affecting stocks below the DAX in this country. The MDAX of medium-sized companies lost 2.04 percent to 23,964.39 points at the start of the week. The SDAX, which had temporarily dropped by almost 6 percent, fell by 2.62 percent. Medium-sized and smaller companies are often particularly dependent on the economic cycle.

You can read about how trading went today in detail in our stock exchange report.

Infineon as winner

The stock markets across Europe and in the USA also looked gloomy. The EuroStoxx 50 lost 1.45 percent to 4571.60 points. The country stock exchanges in Zurich and London fell even more sharply. In the USA, the Dow Jones Industrial and the Nasdaq stock exchanges fell by just over 2 percent at the close of European trading.

The DAX saw mostly losers. However, Infineon gained 1.3 percent after a significant up and down. The Munich-based company’s business improved slightly in the third quarter, which stopped the downward trend of the previous quarters. In addition, the chip manufacturer stuck to its annual targets despite the difficult environment.

The automotive supplier and tire manufacturer Continental is considering spinning off its automotive supply division. If the spin-off were to happen, it would be the most comprehensive corporate measure to date, but one that would also have a clear capital market logic, said Jefferies analyst Michael Aspinall, commenting on the plans. The share price fell by 1.2 percent.

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