The leading German index has already reached several new record highs this year.
(Photo: Bloomberg Creative / Getty Images [M])
Dusseldorf The German stock market barometer again fell below the important mark of 15,000 points on Wednesday. At noon, the Dax slipped 2.3 percent and is trading at 14,841 points – a minus of more than 300 points. On Tuesday, the index had successfully tested the round mark with the daily low of 15,011 points. It went out of trading with a plus of 1.1 percent and 15,194 points.
If the index falls sustainably, i.e. at the daily closing price, below the mark of around 15,000 points, there is likely to be a significant sell-off afterwards. The technical analysts at HSBC Germany write of a “magical 15,000 mark”.
One fundamental reason weighs on the stock market: The fear of further rising interest rates is back. The higher than expected index level of the ISM purchasing managers index has shown that the better the US economy runs, the faster the US Federal Reserve can reduce its bond purchases and then turn the interest rate screw.
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