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, Friday even marked a low point for almost seven months. Things are currently continuing to decline: most recently the decline was 1.42 percent to 14,831.67 points.
The German leading index is following the weak guidelines from overseas – on a weekly basis there are signs of a loss of two percent.
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