FRANKFURT (dpa-AFX) – The German stock market continued its downward trend midweek. In the wake of weak U.S. exchanges, the DAX fell by 0.73 percent in the opening minutes of trading, reaching 23,773 points. This puts the 24,000-point mark, which it slipped below the previous day, even further out of reach. “From a technical chart perspective, the leading German index is slowly but surely paving the way for a larger correction,” warned analyst Frank Sohlleder from broker Activtrades.
The MDAX, representing mid-cap companies, dropped by 0.48 percent to 29,285 points. The Eurozone benchmark index, the EuroStoxx 50, declined by 0.8 percent.
Investor concerns over high valuations led to sharp losses on the U.S. technology exchange Nasdaq on Tuesday. In otherwise subdued Asian trading, the Japanese Nikkei 225 index stood out with renewed significant profit-taking. Experts at Landesbank Helaba pointed out that,…
