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Frankfurt Stock Exchange: Poor weekly start for the Dax - fear of trade war

2019-08-05T07:36:38.098Z

TIME ONLINE | News, backgrounds and debates



Frankfurt / Main (AP) - The sell-off on the German stock market has continued at the beginning of the new stock exchange week.

With the announcement of new punitive tariffs against China by US President Donald Trump, the trade war between the two powers reached a new level of escalation and put the stock markets around the world under heavy pressure. China devalued its currency Yuan.

In addition, there were media reports that the Chinese state companies allegedly no longer want to import agricultural products from the US.

The Dax lost 0.76 percent to 11,782.32 points in the first minutes of trading, its lowest level since early June. In the previous week, the German leading index had sunk by 4.4 percent, as clearly as since October 2018. The MDax, which represents the shares of medium-sized German companies, fell on Monday morning by 1.38 percent to 25,273.59 points. The EuroStoxx 50 lost around 0.8 percent.

Source: zeit

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