Investors on Wall Street continue to retreat

Frankfurt After the recent sell-off on Wall Street, US investors are again worried about the economy. At the beginning of the week, the focus was on fears of a faltering economic engine in China and rapidly rising interest rates. “Equities’ rebound from the first-quarter correction has met a wall of rising long-term interest rates,” said Lisa Shalett, chief investment officer at Morgan Stanley.

The Dow Jones index of blue chips and the broader S&P 500 fell almost a percent on Monday to 33,600 and 4235 points. The technology-heavy Nasdaq index, on the other hand, largely made up for its losses in the course of trading and was quoted hardly changed at 12,840 points.

In Europe, too, concerns about a slowdown in economic growth in China and rapidly rising interest rates overshadowed the relief at the election victory of French President Emmanuel Macron. The EuroStoxx50 fell more than two percent to its lowest level since mid-March.