In view of the impending escalation of the American-Chinese trade war, the DAX is under massive pressure on Wednesday.
On Wednesday, the DAX temporarily loses 3.5 percent to 19,574 points on Wednesday.
On Tuesday, the stock market barometer had made around two and a half percent soil well – this attempted stabilization is now likely. Course losses recently dominated in Asia and a similar development is emerging in New York.
On March 18, the German leading index had reached a new high with a view to the Bundestag vote on the financial package at 23,476.01 points. The DAX ended March 6th at 23,419.48 units – with a new all -time high at the final course basis.
US special tariffs in force
The last week-specific US special tariffs announced that European times came into force this morning. The first step in the package of measures had already become effective on Saturday: flat rate import duties from ten percent on goods from all countries. In addition, US President Donald Trump ordered further special tariffs against China on Tuesday – because of the counter tariffs that the country wants to put into force on Thursday. So far, there is no evidence that one of the two opponents gives in.
Today coordination on EU countermeasures
The customs conflict between the United States and the EU could also worsen. This afternoon, a first wave of EU counter-measures is to be coordinated. Accordingly, additional duties are to be collected to a number of US goods. However, this is the reaction to the new US tariffs imposed about a month ago to steel and aluminum imports. Another large package of measures for tariffs on cars and almost all other EU exports to the USA are still being worked on.
Redaktion finanzen.net / dpa-afx