FRANKFURT (dpa-AFX) – The DAX faced heavy pressure in an extremely nervous market on Friday. Germany’s leading index dropped 1.82 percent to 23,830.99 points, though it finished well above its intraday low. For the week, the DAX recorded a 1.69 percent loss. The MDAX, which tracks mid-sized companies, also fell by 1.74 percent to 29,512.77 points on Friday.
Global stock markets were rattled once again by fears of a US banking crisis, after reports emerged that two regional banks in the United States may have fallen victim to loan fraud linked to distressed real estate funds. According to Jochen Stanzl, chief market analyst at trading house CMC Markets, this has revived painful memories of spring 2023, when the collapses of Silicon Valley Bank and Signature Bank sent markets tumbling worldwide. “The weak credit condition of American regional banks is now shaking up investors who had been euphoric on hopes for AI and…
