Aktien Frankfurt opening: Further losses due to US debt dispute

FRANKFURT (dpa-AFX) – The ongoing US debt dispute brought further price losses to the Dax (DAX 40) on Wednesday. In the first few minutes of trading, the leading German index fell by 0.96 percent to 15,997.97 points. After the record high of 16,331 points last Friday, he is heading for the third day of losses in a row.

The MDAX for medium-sized companies fell by a further 1.42 percent to 26,999.98 points, and the leading euro zone index, the EuroStoxx 50 (EURO STOXX 50), lost 1.02 percent to 4,298.06 points.

“In view of the ever-shorter time window until the day of potential insolvency, investors are becoming increasingly nervous,” comments portfolio manager Thomas Altmann from QC Partners on the situation with a view to the USA. According to forecasts by the US Treasury Department, the US government is threatened with default from the beginning of June if the debt ceiling is not raised. “Despite the price drop, sales were low yesterday,” Altmann continued. “So far, there are very few who have used the new high to sell. The masses are hoping for further price gains.”

In addition to the US debt dispute, the focus is on the German Ifo business climate in the middle of the week. Ralf Runde and Ulrich Wortberg from Landesbank Helaba speak of negative targets for the leading economic indicator. Because “both the ZEW survey and the Sentix investor confidence have given way and brought with them a deterioration in the current economic situation and expectations of economic developments”. They are also reminiscent of mixed purchasing manager indices from the euro zone. All in all, these indications lead us to expect a slightly declining Ifo index. According to Helaba, however, this should not have a major impact on the stock markets.

The minutes of the last meeting of the US Federal Reserve will be published in the evening. After Fed Chair Jerome Powell floated the possibility of a pause in the rate hike cycle, the market initially priced in a series of rate cuts, according to Helaba experts. But “in the meantime, interest rate expectations have risen again, and interest rate increases in June and July are no longer ruled out by the market, albeit with a low probability”./gl/mis

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