Dax currently: German leading index in the morning in the minus – oil price in focus
Last week, the Dax still seemed unaffected by the sell-off in chip stocks overseas. However, it is now also turning negative. The fluctuating oil price is making investors uncertain.
The German stock market index, Dax, fell by 1.2 percent to 25,325 points at the start of the new trading week, reversing gains made the previous week. The Dax had ended the previous week at 25,623 points, its highest level since mid-September. In contrast, US markets saw significant losses, particularly in chip stocks, with the S&P 500 and Nasdaq experiencing sharp declines.
The oil price, which had reached a five-month high of $110 per barrel on Friday, fell by nearly 2 percent to around $108 per barrel on Monday. There were reports of attacks on tankers in the Persian Gulf and on Saudi Arabia from Yemen, but US Energy Minister Chris Wright sought to calm concerns about supply from the region.
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.
