Frankfurt The conditions for the start of the new week could hardly be worse: on Friday, only the closing bell ended the US stock market slide, and the Dax also ended trading near its daily low. The leading German index fell below the important mark of 13,000 points for the first time since mid-July.
In mid-August, the Dax had almost reached the 14,000 point mark. Since then, however, caution has regained the upper hand. Investors feared a clear commitment from US Federal Reserve Chairman Jerome Powell to fight inflation.
Powell made exactly this commitment at the international central bank conference in Jackson Hole on Friday afternoon German time – and pushed the stock exchanges clearly into the red. The Dax lost 1.9 percent on Friday; in the US, the S&P 500 and the Dow Jones dropped more than three percent and the tech-heavy Nasdaq even lost more than four percent.
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