Current Dax: Dax closes at lowest level since July - oil price over $100
Investors reacted uncertainly to further rising energy prices as a result of the renewed escalation in the Middle East. Starting from its record high, the Dax has lost 1,000 points since the end of August.
The German stock market came under pressure on Wednesday, with the Dax index falling 1.7% to 25,569 points, its lowest level since July 31. The decline was driven by rising energy prices amid escalating tensions in the Middle East, with Brent oil prices surging above $100 per barrel for the first time since May. The price of European natural gas also hit a new high, rising above €80 per megawatt-hour for the first time since late 2022.
The European Central Bank is expected to raise interest rates for the second time this year at its meeting on Thursday, while the US Federal Reserve will also decide on interest rates next week.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
