Dax extends losses and falls to new low for the year

Dusseldorf After weak targets from Asia and the USA, the German stock market came under pressure on Friday. In the morning, the Dax fell below the previous low for the year of 12,390 points: it was down 1.5 percent at 12,345 points.

According to Thomas Altmann, portfolio manager at QC Partners, the focus is now on the 12,000 point mark and then the 11,500 point mark.

After several central banks had raised interest rates on Thursday in the fight against high inflation, the leading German index closed 1.8 percent lower at 12,514 points. On Wall Street, the leading indices also ended trading on Thursday in the red – the Nasdaq technology exchange lost the most at 1.4 percent. Chinese stock markets also closed lower on Friday, while Japanese bourses were closed for a holiday.