The “new” Dax had an unfortunate start date.
Dusseldorf September lives up to its reputation as the weakest stock market month of the entire year. The Dax loses 2.9 percent in the afternoon and is trading at 15,037 points, a minus of more than 400 points. The daily low is 15,034 meters.
The rapid change of direction should not come as a surprise to any investor. The German stock market barometer is suffering from four negative factors at the beginning of this week.
On the one hand, there are the international financial markets, which these days are affected by the possible insolvency of the Chinese real estate company Evergrande. The share price lost a further twelve percent on Monday to 2.23 Hong Kong dollars (the equivalent of around 0.24 euros), the lowest level in ten years. Investors should know: China’s mainland stock exchanges were closed, which is probably why the drop in Hong Kong as a trading center was so drastic.
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