Price slide on the stock exchanges – investors remain unsettled
The American stock exchanges pushed the markets into the red on Wednesday.
tsf. The stock markets are losing momentum again. Economic risks, inflation concerns and the losses on Wall Street weighed on the courses on Wednesday. Traders explain the recent losses primarily with the negative specifications from Wall Street. There, the unexpectedly strong decline in consumer confidence to its lowest level since 2013 had increased concerns about the economy and triggered significant price falls on the markets. In addition, a rise in crude oil and gas prices fueled fears of inflation, adding to the losses.
The decline in US consumer confidence is particularly disappointing as consumption is seen as the backbone of the American economy. Should consumption fall further, this would be an indication that the USA is heading for a recession.
In Switzerland, the SMI heavyweight index fell by almost 0.6 percent by 11 a.m. after having given way almost 1 percent at the start of trading. The strongest losses are recorded by the technology stocks, which are thus following the negative ones of their US competitors. Credit Suisse is also lower (-1.4%). The day before, the big bank had tried to gain the trust of stockbrokers at an investor event. The defensive heavyweights Roche (+0.1 percent) and Nestlé (+0.04%) are doing better and even turned positive.
In Germany, too, investors have to cope with the next setback. The DAX fell by 1.2 percent by 11 a.m.
The stock exchanges had previously also dived in Japan. Japan’s Nikkei index fell 0.9 percent. Prices also fell in China and Hong Kong. In mainland China, the Shanghai Composite lost 1.4 percent. In Hong Kong, the Hang Seng Index fell 2 percent.