FRANKFURT (dpa-AFX) – In the face of a sell-off on the Asian stock markets, the Dax continued its recent slide on Monday. The leading German index fell by three percent to 17,127.22 points, reaching the level of the end of February. At the same time, the stock market barometer fell below the much-noticed 200-day moving average, which provides an indication of the longer-term trend.
Investors reacted primarily to the sharp slump on the Asian stock markets. Concerns about a possible hard landing for the US economy spooked investors there. In addition, technology stocks suffered from a report that chip manufacturer Nvidia is postponing the launch of new AI chips due to so-called design flaws. As a major beneficiary of the artificial intelligence (AI) boom, Nvidia was recently the driving force behind the general stock market rally.
