FRANKFURT (dpa-AFX) – On Thursday, the DAX suffered its sharpest fall since July last year. Analyst Konstantin Oldenburger from broker CMC Markts commented that the euphoria among investors following hints from US Federal Reserve Chairman Jerome Powell of an interest rate cut in September had failed to materialize. In addition, the weak car stocks dragged the DAX down.
At the end of trading, the leading German index had lost 2.30 percent to 18,083.05 points – the recovery of the past few days is completely gone. In view of the slide below the 21-, 50- and 100-day lines, the short- to medium-term prospects on the charts are bleak. Only above the 200-day line, which is important for the long-term trend, did the stock market barometer clearly hold its ground. However, the year-to-date gain has dwindled to just under 8%.
The MDax of medium-sized companies ultimately fell by 1.46% to 25,001.78 points on Thursday. The…
