Frankfurt (dpa-AfX)-The huge customs package of the US government and the associated economy worries have Financial markets Picked up heavily on Thursday. At the Frankfurt stock market, the DAX fell to the lowest level since the beginning of February. In the afternoon trade, it was about two percent down to almost 22,000 points. Before that, there have already been clear price losses on the stock exchanges in Asia. There were also strong losses in the oil prices, while escaping in safe investment ports drove the gold price to another record high.
The markets were concerned about the further development of the global economy, which could lose momentum after a huge customs package of the US government. The announcement by US President Donald Trump from the previous evening is the most aggressive and most serious step in the course of the US president’s already rabid trade policy. A trade war with the EU and other countries seems inevitable.
One of the strongest losers on the market was the US dollar, which was under pressure after the customs hammer for all other important currencies. In return, the euro could grow significantly. At times, the course of the community currency increased to $ 1.1144 and thus up to the highest level in half a year. “It remains noteworthy that the US dollar does not benefit as a safe port,” said decabank experts. Rather, the courses from the euro and the Japanese yen were able to upgrade. “Apparently, investors see main risks for the USA.”
There was also particularly strong reactions to aggressive customs policy on the oil market. Here the notations reacted with a significant decline in the huge customs package of the US government. In addition, Oilverbund OPEC+ has started to increase the amount of funding. The oil prices significantly expanded their early losses after the Opec announcement and accelerated their descent in the afternoon. A barrel of the North Sea variety Brent for delivery in June recently fell by $ 4.23 to $ 70.72.
In general, there was a strong demand for systems that are considered comparatively safe. However, the gold price was only able to benefit from the economic worries in the morning and achieved a record high at $ 3,167.84 per provisions (about 31.1 grams). In the past few days, speculation on the US customs package had already driven the gold price from one record high to the next, so that in the course of the trade on Thursday, profit takeover, which pressed the gold price again to $ 3,070.
In contrast, the demand for safe government bonds remained high in the course of the trade. In return, the returns went down significantly. In German federal bonds with a term of ten years, the return fell by 0.08 percentage points to 2.63 percent. The returns for British government bonds were even clearer. Great Britain has got off the announced US tariffs comparatively lightly.
Bitcoin also included the comparatively risky systems that have come under pressure according to the US Collarhammer. The oldest and best -known cryptocurrency also came under pressure, the course fell towards $ 80,000. In addition, US President Trump only fulfills the expectations of Bitcoin supporters for deregulation and the structure of a Bitcoin reserve to a small extent. In the course of the inauguration of Trump, Bitcoin had increased to a record high over $ 109,000 in January.