Markets

Dax investors fear the next lockdown

A.In the face of stricter measures to prevent the spread of the pandemic, the German stock market declined on Wednesday at a pace that is faster than feared. “It is almost certain that there will be a second lockdown in Germany,” said Jochen Stanzl from trading company CMC Markets in the morning. At lunchtime, Chancellor Angela Merkel and the prime ministers of the federal states met to decide on measures that gradually became known through media reports. The contact restrictions are to come into force at the beginning of November.

Under the impression of the impending restrictions on public life, the heavily battered leading index Dax opened trading well below the 12,000 mark to 11,848 points and expanded its loss in the afternoon to around 4.7 percent at 11,502 points. The day before, the Dax had just defended the barrier of 12,000 points, with capital market expert Andreas Lipkow from Bank Comdirect seeing the leading index in a fight to bottom out at 12,000 or 12,200 points. Apparently these barriers were too weak. American Wall Street, which was not affected by the fear of lockdown in Germany, also started Wednesday with significant losses.

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