Dusseldorf The leading German index is taking a breather at the start of the week. The Dax is down 0.6 percent in the morning and is trading at 14,475 points. On Friday, the stock market barometer was almost unchanged at 14,541 points.
The reason for today’s profit-taking comes from China: The protests against the local Covid policy are escalating, which is causing uncertainty in the market. Especially since the current Covid outbreaks are fueling fears of a longer economic dry spell in the Middle Kingdom.
The new protests are leaving their mark on raw materials in particular. Crude oil prices have fallen by around three percent and are at their lowest level since January 2022. In the morning, a barrel (159 liters) of the North Sea variety Brent costs 81.41 US dollars. That was $2.22 less than Friday. The price of a barrel of American West Texas Intermediate (WTI) grade fell by $2.03 to $74.25.
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