The Dax paid tribute to its most recent record high on Monday. The correction trend was also fueled by weak US technology stocks after the labor market report in the world’s largest economy on Friday. In the first few minutes of trading, the leading German index fell by 0.68 percent to 17,693.17 points. The index of medium-sized companies, the MDax, fell by 0.38 percent to 25,886.18 points and the situation was similar across Europe. The Eurozone leading index EuroStoxx 50 lost 0.80 percent to 4921.35 points.
The Dax paid tribute to its most recent record high on Monday. The correction trend was also fueled by weak US technology stocks after the labor market report in the world’s largest economy on Friday. In the first few minutes of trading, the leading German index fell by 0.68 percent to 17,693.17 points. The index of medium-sized companies, the MDax, fell by 0.38 percent to 25,886.18 points and the situation was similar across Europe. The Eurozone leading index EuroStoxx 50 lost 0.80 percent to 4921.35 points.
On Thursday, the DAX continued to approach the 18,000 point mark and reached a high of 17,879 points. On Friday it remained largely stable.
Things will get exciting on the stock markets on Tuesday when inflation data from the USA for February is available. “The surprisingly high January figures on US inflation have caused unrest on the markets,” wrote the Commerzbank experts. It will therefore have to be seen to what extent these were one-off effects or not. You yourself expect consumer prices to rise quite sharply again. And if that were to happen, it would likely confirm the US Federal Reserve’s wait-and-see attitude and probably disappoint the market, which is hoping for signals of interest rate cuts.
Source: Stern
