Dax falls back to the 13,800 point mark

Frankfurt Stock Exchange

“The fear is back, the worries are back”

(Photo: dpa)

Dusseldorf The price slide on Wall Street is pulling the German stock market further down. In the first hour of trading on Thursday, the Dax fell to 13,701 points, a drop of more than two percent or 300 points. All 40 Dax titles are in the loss zone.

The major indices in the United States had their worst day in two years on Wednesday. The Dow Jones fell 3.6 percent on weak corporate balance sheets and recession fears, the broader S&P 500 four percent and the tech-heavy Nasdaq index as much as 4.7 percent.

This development continued on the Asian stock exchanges, albeit somewhat more subdued. Japan’s leading index, the Nikkei, is two percent lower shortly before the end of trading, the broad Topix index is 1.3 percent lower. The Hang Seng in Hong Kong fell 2.5 percent, while the Shanghai stock exchange was little changed.

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