The severe turbulence on the stock markets worldwide also affected the German leading index. It plummeted at the opening.
In the face of a sell-off on the Asian stock markets, the DAX is continuing its recent slide. The German leading index fell by three percent to 17,127.22 points on Monday morning, reaching the level seen at the end of February. At the same time, the stock market barometer fell below the much-watched 200-day average line, which provides an indication of the longer-term trend on the stock market.
Investors reacted in particular to the sharp drop in prices on the Asian stock exchanges. Concerns about a possible hard landing of the economy in the USA scared investors there. Technology stocks also suffered from a report according to which chip manufacturer Nvidia is postponing the launch of new AI chips due to so-called design defects. Nvidia was recently the driving force of the general stock market rally as a major beneficiary of the booming topic of artificial intelligence (AI).
Source: Stern
