The leading German index had reached several new record highs in the last stock market year.
(Foto: Bloomberg Creative/Getty Images [M])
Düsseldorf The mood on the German stock market is turning once more. After catching up the previous day, the Dax immediately gave up all of the previous day’s gains in the first hour of trading on Friday and slipped rapidly towards 15,000 points. In midday trading, the stock exchange barometer was at 15,199 points – a drop of 2.1 percent or more than 300 points.
So far it has been a trading week as ordered by day traders. These investors try to make large profits during periods of short-term fluctuations. A 600-point slide on Monday was followed by a 385-point rise on Thursday, closing at 15,524 points and up 0.4 percent.
These high fluctuations point to more turbulent trading days. And it is to be feared that the Dax will continue to give way – despite the relief rally that has so far remained intact since the price slide at the start of the week.
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