FRANKFURT (dpa-AFX) – The DAX slipped significantly again on Thursday after its late rally in the middle of the week. Predominantly heavy losses among the major US technology stocks once again heightened concerns on the market about overvaluation and a potentially more significant correction.
At the close of trading, the German benchmark index lost 1.31 percent to 23,734.02 points. The volatility of recent weeks around the 24,000-point mark thus continued, but now in a somewhat more pronounced downward trend. The MDax index of medium-sized companies fell by 1.41 percent to 28,959.63 points on Thursday. On the New York stock market, the tech sector was under pressure. The Nasdaq 100 lost 1.7 percent at the close of European trading. The leading Dow Jones Industrial index fell by 1 percent.
The focus in Germany was on the reporting season: eight companies from the DAX alone reported on their latest business…
