FRANKFURT (dpa-AFX) – The Dax (DAX 40) remains in a downward spiral. On Wednesday it threatens to drop below the psychologically important mark of 12,000 points: After pre-market indications were temporarily below that, the broker IG assessed it two hours before Xetra start then one percent lower to 12,009 points. The dominant issues remain the interlinked concerns about inflation, interest rates and the economy. In the USA, demands from central bankers for more interest rate hikes had had a negative effect the previous evening.
“The dark clouds over Europe’s stock exchanges and thus also the German stock index just don’t want to go away,” wrote analyst Konstantin Oldenburger from broker CMC Markets after the leading index had failed again the previous day with an attempt to recover. “Even speculative investors, trained to be bold when others are fearful, are currently reluctant to buy stocks,” he added.
Concerns are also currently being exacerbated by leaks in the two Baltic Sea gas pipelines, which are being linked to a possible act of sabotage. No Russian gas is currently being supplied via Nord Stream 1 anyway, and Nord Stream 2 was not yet in operation. In general, however, this raises concerns about how vulnerable the entire European energy network could be