After the very weak stock market month of August, dax also started September with a negative sign. The leading German index closed 1.6 percent down on Thursday at 12,630 points. Many analysts currently see few reasons to buy stocks. Investors are concerned that the US Federal Reserve and the European Central Bank could unleash economic weakness across the board by taking an aggressive stance in the fight against inflation. Investors believe it is possible that the ECB will hike rates by 0.75 percentage points at its interest rate meeting next week. The Fed is also expecting another major rate hike.
Zalando shares lost value among the individual values in the Dax. Speculations on the entry of Alibaba’s online shopping platform Lazada weighed on shares, which slipped 4.6 percent. The shares of Lufthansa, which were listed 3.1 percent lower in the M-Dax, did not have a good day either. The pilots’ union Vereinigung Cockpit has declared the negotiations in the wage conflict to have failed and called on pilots from Lufthansa and the Lufthansa Cargo airline to go on strike. The share of the airport operator Fraport slipped by 3.8 percent.
The tightened corona restrictions in China had a significant impact on luxury brand manufacturers. The shares of LVMH, Gucci parent Kering, Hermes and Burberry fell by up to 3.5 percent. Richemont and Swatch lost around four percent in value in Zurich.
The chip manufacturers were under pressure. Infineon shares fell by 2.2 percent, Aixtron lost three percent. The reason for the bad mood in the sector was the tightening of US regulations for technology exports to China. On Wall Street, shares of Nvidia and AMD fell 7.6 percent and three percent, respectively. According to the two companies, the authorities banned the supply of semiconductors needed for artificial intelligence applications. For Nvidia, these products are the hope for future growth, said Susannah Streeter of brokerage house Hargreaves Landsdown. Other chip values such as Intel or Micron also gave way. Of the Dow Jones still closed 0.5 percent up.