Frankfurt / Main (dpa) – After the positive reaction to the federal election at the beginning of the week, German stocks came under significant pressure on Tuesday.
The leading index Dax lost 2, 09 percent to a level of 15. 248, 56 points. This wiped out part of the price gains since the several-month low in the previous week. The MDax lost 2, 19 percent to 34.502,31 Counter. Over the course of the year, the index with the medium-sized German stocks was again briefly below the mark of 34 for the first time in two months. 500 Points.
Concerns about persistently high inflation, threatened monetary policy tightening and a pronounced weakness in the Corona winner shares weighed on the prices in the entire Dax family. The price slide was accompanied by a sharp rise in yields on the bond markets and a decline on the New York stock exchanges.
The weakness of the New York stock exchange Nasdaq also extended to the German technology stocks that were in the corona pandemic The winners of the wave of digitization were considered: The shares of Infineon were beaten to the bottom of the German benchmark index by slipping 5.9 percent. The papers of the laboratory supplier Sartorius or the diagnostics group Qiagen, which have only recently entered the Dax, fell more than two percent as they did the day before. In the MDax, Carl Zeiss Meditec caught it with a price slide of 6.6 percent.
Adidas became the second largest DAX loser with a setback of 4.3 percent. But there was a special reason here: The ongoing weakness of the papers on the market was justified by the fact that the corona pandemic is currently affecting the production of the sporting goods company in Vietnam due to lockdown measures. For the competitor Puma SE it was also down by 2.6 percent.
The auto industry did quite well: Daimler were among the few DAX winners with a price gain of 0.6 percent and BMW closed At least at the previous day’s level.
The front runners in the Dax were the shares of Covestro, which rose by a good 2.2 percent on the occasion of the capital market day. The plastics group announced that it can expect significantly more profits in the coming years thanks to sustained good demand.
The leading euro zone index EuroStoxx 50 came under even more pressure than the Dax, by even slipping 2.6 percent. In Paris the price loss for the Cac 50 was also more than two percent, the London FTSE 100 but only lost half a percent. In New York the Dow Jones Industrial lost 1.4 percent at the close of trading here and the Nasdaq 100 even 2.7 percent.
The euro was last traded at 1. 1681 US dollars. The European Central Bank (ECB) had set the reference rate at 1, 1678 (Monday: 1, 1698) US dollars. The dollar cost 0. 8563 (0, 8548) euros.
On the bond market, the current yield rose from minus 0. 29 percent on the previous day to minus 0, 28 Percent. The Rex bond index fell by 0, percent to 144,20 Points. The Bund Future lost 0, 20 percent to 169 ,88 Points.