Of the DAX fell 0.72 percent to open at 13,996.82 points and remains weak. Of the TecDAX dropped by 0.83 percent to 3,102.92 points at the start of trading and then fell deeper into the loss zone.
At the start of the new week, the leading German index slipped back below the 14,000 point mark. “The fact that May of all things is beginning now, which is preceded by a particularly bad reputation, is certainly not helpful,” explained market expert Thomas Altmann from asset manager QC Partners, according to dpa-AFX.
Sentiment indicators from industry in the euro zone and the USA will be in focus on Monday. As expected, the euro area industrial PMI fell in April. In the USA, the Institute ISM announces the results of its survey among purchasing managers.
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Of the EuroSTOXX 50 lost 0.79 percent to 3,772.91 points when the stock market opened and is now continuing to fall.
Concerns about inflation, interest rates and corona are flaring up again among investors. According to dpa-AFX, Bankhaus Metzler spoke of a “central bank week” on Monday morning, as interest rate increases are expected in the USA and Great Britain.
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Of the Dow Jones started almost unchanged at 32,978.49 points. In the meantime, it has fallen back to red territory – but it is currently in the red again. Of the NASDAQ Composite Meanwhile, posted modest gains after starting a marginal 0.02 percent higher at 12,331.69.
The US Federal Reserve’s interest rate decision is due on Wednesday. The market expects interest rates to rise by 50 basis points as inflation continues to rise. “The Fed is likely to announce a 50 basis point hike, along with all the language that comes with tightening monetary policy, as long as the data suggests it’s necessary,” Dow Jones Newswires quoted David Bahnsen as saying, chief investment officer at wealth manager Bahnsen group. “While the Fed is likely to remain vague in its comments, I would be pleased if it announced that it plans to deleverage $3 trillion in bonds from its balance sheet, which has grown significantly over the past two years and the past decade “said Bahnsen.
Meanwhile, a series of US economic data was released on Monday. The growth in activity in US industry in April strengthened compared to the previous month. The purchasing managers’ index compiled by S&P Global rose from 58.8 points to 59.2 points. Meanwhile, US construction spending rose only slightly in March.
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Trading resumed in Tokyo on Monday. The leading Japanese index Nikkei lost 0.11 percent to 26,818.53 points by the close of trading. According to the market, market participants continued to be concerned about bottlenecks in the supply chain.
On the other hand, public holidays were celebrated in mainland China and Hong Kong on Monday, and the stock exchanges there remained closed. Of the Shanghai Composite was holding where it was on Friday, when it closed 2.41 percent higher at 3,047.06. Of the hang seng was up 4.01 percent to 21,089.39 jobs before the weekend.
In China, the purchasing managers’ index (PMI) for the manufacturing sector fell more than expected in April. In addition, the country has now tightened its corona measures in Beijing.
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