FRANKFURT (dpa-AFX) – After a five-week winning streak, the German stock market has started the new trading week cautiously. The DAX fell by 0.1 percent to 23,754 points in early trading. In the previous week, the German benchmark index had increased its year-to-date gain to around 20 percent with a record high of 23,911 points. The MDAX lost 0.1 percent to 29,871 points on Monday morning. The EuroStoxx 50, the leading index for the eurozone, fell by 0.4 percent.
The US stock markets are currently showing signs of a weak start. This is because the US has now lost its top credit rating from Moody’s, the last of the three major rating agencies. The agency downgraded its rating by one notch from “Aaa” to “Aa1.” The trigger is the high level of government debt. This move could make it more expensive for the United States to raise money on the capital market through government bonds.
Market expert Andreas Lipkow described…
