Dax returns most of its profits after a strong previous day

Dax curve

The 14,000 point level has become a key resistance.

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

Dusseldorf After the strong previous day, the German stock market gave up most of its gains on Wednesday: until noon, the Dax fluctuated around the previous day’s level, but after the US stock exchanges opened, the leading German index came under pressure and ended trading 1.3 percent lower 14,008 points. On Tuesday, the Frankfurt stock exchange barometer was 1.6 percent higher at 14,186 points – this was the highest closing price in four weeks.

For fear of even more drastic interest rate increases, investors withdrew from the US stock exchanges on Wednesday: the leading indices Dow Jones, Nasdaq and S&P 500 were each listed at least two percent in the red.

The Dax did not manage to sustainably exceed the 50-day line for the medium-term trend on Wednesday. The leading index should have been at 14,060 points at the end of trading.

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