In view of the escalation of the American-Chinese trade war, the DAX was under massive pressure on Wednesday. But that changes afterwards.
At the opening of trade on Wednesday, the DAX lost 2.2 percent to 19,833.56 points and remained in the loss zone – below the psychologically important brand of 20,000 points. Ultimately, he lost 3.00 percent to 19,670.88 units. The mood turns after the market, but the Dax conquers the 21,000 mark.
On Tuesday, the stock market barometer had around two and a half percent soil well so that the stock market reacted to the latest developments on the customs front: Donald Trump announced a 90-day customs break for some countries, but at the same time increased the tariffs on China’s import. The US exchanges reacted with a course jump, the German stock exchanges are likely to follow follow on Thursday.
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.
Dax drives the markets
US President Donald Trump is back in the international trade conflict and exposes certain tariffs that have just come into force for 90 days. Trump wrote on the Truth Social platform that he ordered a 90-day break and during this period a reduced customs duty grabs ten percent. However, this does not explicitly apply to China: for Chinese imports, Trump raised the duty again – to a total of 125 percent.
Trump’s surprising and short announcement on social media caused some confusion and left many questions open. Just a few days ago, the US President had announced the fight with a huge customs package in the world.> The US exchanges still react relieved and put a plump on the floor that could also drive the German market on Thursday.
Redaktion finanzen.net / dpa-afx