Frankfurt Stock Exchange
Dax with losses: impending gas crisis fuels economic fears

dax

The Dax is the most important stock index in Germany. Photo: picture alliance / dpa

© dpa-infocom GmbH

Concerns about the gas supply and the weakening economy brought significant losses to the German stock market on Thursday.

Concerns about the gas supply and the flagging Economy brought significant losses to the German stock market on Thursday.

The Dax slipped 1.76 percent to 12,912.59 points, falling to its lowest level since early March. Of the MDAX fell by 2.74 percent to 26,499.68 points. Even moderate price gains on the US stock exchanges did not provide any tailwind.

Investor sentiment was additionally dampened by poor sentiment data from companies in the euro area. The day before, Fed Chairman Jerome Powell had not ruled out a recession in the United States.

“The flight from risky and economically sensitive investments such as shares will continue on Thursday,” writes Andreas Lipkow, market strategist at Comdirect. The economy in the euro zone is clearly sending negative signals. “The economic situation is exacerbated by the geopolitical situation and the events surrounding the Ukraine war.” Although it takes a back seat on the financial markets, it has lost none of its explosiveness.

dpa