FRANKFURT (dpa-AFX) – Economic concerns sent the DAX into a tailspin on Friday at the start of August. Numerous companies cut their forecasts, citing the difficult economic situation, which led to significant price losses for some individual stocks. In addition, tariff concerns and mixed business figures from US tech giants Apple and Amazon weighed on the market, as did disappointing US labor market data for July.
The German benchmark index fell well below 24,000 points. At the close of trading, it was down 2.66 percent at 23,425.97 points, returning to its level at the end of June. For the week as a whole, the DAX lost 3.3 percent.
The MDax index of medium-sized companies fell by 2.22 percent to 30,317.29 points on Friday. The EuroStoxx 50, the leading index for the eurozone, slumped by 2.90 percent to 5,165.60 points. While trading was suspended in Switzerland due to a public holiday, losses in London were…
