The German stock market continued its losing streak on Friday.
The DAX started Friday trading with a loss of 1.15 percent at 14,872.02 points. This meant that the psychologically important mark of 15,000 points, which had already fallen below the previous day, fell again. At times, losses on Friday even reached a low point in almost seven months. Things are currently continuing to decline: most recently the decline was 1.24 percent at 14,859.00 points.
It is following the weak guidelines from overseas – a loss of two percent is expected on a weekly basis.
Concern about escalation of the Middle East war
The day before, the DAX had slipped below 15,000 points during trading for the first time since the beginning of October, but had recovered somewhat. Stock markets worldwide are suffering from concerns about an escalation of the war between Israel and the Islamist Palestinian organization Hamas. In addition, rising bond yields kept the pressure on prices, wrote analyst Michael Hewson from the trading house CMC Markets UK. Against this background, investors who had expected signals of monetary easing from US Federal Reserve Chairman Jerome Powell’s speech on Thursday evening were disappointed.
Editorial team finanzen.net / dpa-AFX