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The DAX started Thursday trading up 0.22 percent at 14,187.13 points.
Weak specifications from Asia and the USA initially do not burden the leading index in the morning. Nevertheless, the most recent recovery trend on the DAX since the low for the year reached in the course of the Ukraine war at the beginning of March is wobbling at just under 12,500 points. Around a third of the stabilization gains are gone in just over a week. “The price risks are increasing,” said Helaba’s experts, referring to the break in the 21-day line the day before.
“The Fed has spoiled the mood of the latest tech party in particular,” said a stockbroker with a view to further losses on the US technology exchange Nasdaq and the stock exchanges in Asia. The trigger is the US Federal Reserve (Fed), which in the minutes of its most recent meeting signaled a speedy reduction in its balance sheet total. A determined tightening of monetary policy had already been signaled by Fed Board member Lael Brainard on Tuesday.
The fear of rising interest rates and the associated worries about a recession once again weighed heavily on US tech stocks, which are sensitive to the economy. “The specter of interest rates is up to mischief on the trading floor on both sides of the Atlantic. One of the key questions for stockbrokers remains how much the US Federal Reserve will turn interest rates this year,” wrote market expert Timo Emden from Emden Research. Higher interest rates cause financing costs to rise, particularly for fast-growing technology companies.
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Image sources: Julian Mezger for Finanz Verlag