Dax loses more than one percent – risk of an energy embargo increases

Frankfurt The deteriorating economic prospects are unsettling investors in the German stock market. The leading index Dax was down 1.2 percent on Wednesday morning at 14,246 points. Financials, which are benefiting from rising bond yields, are doing relatively well. Auto stocks, on the other hand, are among the biggest losers, and online retailers like Zalando, Delivery Hero and Hellofresh are also under pressure.

Two factors are depressing the mood on the market on Thursday: On the one hand, the USA and its allies want to further tighten the thumbscrews for the Russian economy because of the war in Ukraine. A package coordinated with the G7 countries and the EU is to be presented on Wednesday. The risk of an oil and gas embargo, which the EU has so far avoided, is increasing day by day and with it the inflation and economic risks for Europe, commented the analysts at Commerzbank.