The slide on the German stock market continued on Monday.

In view of high inflation, fear of interest rates and the associated concerns about a recession, there seems to be no improvement in sight.

The Dax fell by 2.43 percent to 13,427.03 points.

In the course of trading, the leading German index slipped briefly below the May low of 13,380.67 points.

The MDax for medium-sized stocks fell by 3.57 percent to 27,742.35 points.

The next interest rate meeting of the US Federal Reserve is on the agenda for Wednesday, at which further tightening of monetary policy is considered agreed.

The decisive factor, however, is whether the currency watchdogs will push the pace even harder than before.

The Fed is bracing itself against very high inflation, which recently rose to its highest level in around 40 years.

An additional concern is the threat of lockdowns in China, where mass tests were carried out in Beijing and Shanghai over the weekend due to repeated corona outbreaks.

The fear is that the Covid strategy will further damage the economy and global supply chains.

Real estate values ​​under pressure

According to a skeptical study by the British investment bank Barclays, TAG Immobilien continued to fall to its lowest level since the beginning of 2017.

The shares collapsed at the end of the MDax by 12.5 percent.

Other real estate stocks were also very weak.

The industry is burdened by rising interest rates.

This makes real estate financing more expensive.

Steel stocks also fell more than the market as a whole.

The papers of Salzgitter and Thyssenkrupp lost up to nine percent.

Traders pointed to the danger of strikes in the steel industry in addition to the general economic concerns.

Brenntag provided a positive ray of hope in the gloomy market environment.

After a good start to the year, the chemicals trader is still on the road to success and has raised its expectations for operating profit.

Business continues to run smoothly – Brenntag had already presented record results in the first quarter.

The share certificates closed a good three percent in the plus and thus sat unchallenged at the top of the Dax.

The Eurozone leading index EuroStoxx 50 lost 2.69 percent to 3502.50 points.

The Paris Cac 40 recorded losses of a similar magnitude, while the London FTSE 100 fell around 1.5 percent.

In New York, the leading barometer Dow Jones Industrial fell by 2.7 percent at the close in Europe.

The euro remained under pressure.

At the beginning of the week, the common currency fell well below the $1.05 mark.

The European Central Bank set the reference rate at 1.0455 (Friday: 1.0578) dollars.

The dollar thus cost 0.9565 (0.9454) euros.

On the bond market, the current yield rose from 1.31 percent on Friday to 1.47 percent.

The Rex pension index fell by 0.96 percent to 131.79 points.

The Bund future recently lost 1.14 percent to 145.22 points.