Dax closes almost two percent in the red

Dax curve

The leading German index is in a downward trend this year.

(Photo: Bloomberg Creative/Getty Images [M])

Frankfurt The deteriorating economic prospects are unsettling investors in the German stock market. The leading index Dax tends to increase its losses over the course of the day and closes 1.9 percent lower at 14,151 points in the evening.

Financials, which had previously benefited from rising bond yields, also turned negative. The biggest losers in the Dax were the online retailers Zalando, Delivery Hero and Hellofresh with losses of between around seven and more than nine percent. Auto stocks also fell sharply. The US stock exchanges were also lower in the course of trading, with the Nasdaq index, which contains the tech values, being particularly affected.

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