FRANKFURT (dpa-AFX) – The technology-heavy US stock exchange Nasdaq, which came under heavy pressure in the middle of the week, has dampened the mood on the German stock market considerably on Thursday.
The Dax lost 1.21 percent to 18,164.50 points shortly after the start of trading, meaning that the recent gains are already history again. After closing below the 50-day line the day before, the 100-day line, which runs at just over 18,280 points, also failed to provide any support. These are technical trend indicators that point to the direction the leading index is likely to take in the medium term.
The MDax of mid-caps lost 1.23% to 24,750.97 points. The EuroStoxx 50, the leading eurozone index, fell 1.55 percent to 4786.38 points.
“It was a veritable flight from equities,” commented portfolio manager Thomas Altmann from QC-Partners on the almost four per cent drop in the Nasdaq 100, making it the weakest…
