Frankfurt / Main (dpa) – After moderate gains at the beginning of the week after the Bundestag election, the German stock market came under pressure on Tuesday.
A mixture of fear of inflation, the threat of monetary policy tightening and pronounced weakness in the technology sector weighed heavily on prices. In the afternoon the Dax was 1, 30 percent in the red at 15. 370, 73 points.
The MDax of the medium-sized German values controlled with minus 1, 87 percent at 34. 615, 64 Counters towards its low from the previous week. The European leading index EuroStoxx 50 showed similarly high losses.
In the wake of the Nasdaq, which was weaker the previous evening, the technology and chip values: Infineon were lagging behind in the Dax with around 5 percent in the red, in the MDax Aixtron fell more than 3.4 percent. For the US tech, there were signs of a continuation of the setback on Tuesday. Shares in the laboratory supplier Sartorius, for example, suffered as one of the Dax’s worst performers with a good 3.1 percent discount. Carl Zeiss Meditec was the last in the MDax to drop 6.7 percent to a low since July, while Eckert & Ziegler lost 7.6 percent in the SDax.
The sporting goods manufacturers were also among the bigger losers again. The corona pandemic is currently affecting the production of Adidas in Vietnam. The shares lost 2.6 percent, while the competitor Puma SE fell by around 2 percent.
The automotive industry was one of the few winners across Europe. In this country, the manufacturers’ shares rose by up to 2.7 percent for Daimler, which marked a high at the top of the Dax since the end of June. Covestro also rose in price by a good 2.2 percent. Thanks to sustained good demand, the plastics group expects significantly more profits in the coming years, as it announced to the capital market.
The euro turned to 1. 1675 US dollars in the afternoon acted. The European Central Bank (ECB) set the reference rate on Monday at 1. 1698 dollars.
On the bond market, the current yield rose from minus 0. 29 percent on the previous day to minus 0, 28 percent. The Rex pension index fell by 0, 08 percent to 144, 20 Points. The Bund future lost 0, 32 percent to 169, 70 Points.