Frankfurt The conditions for the start of the new week could hardly be worse: on Friday, only the closing bell ended the US stock market slide, and the Dax also ended trading close to its daily low. The leading German index fell below the important mark of 13,000 points for the first time since mid-July.
In mid-August, the Dax had almost reached the 14,000 point mark. Since then, however, caution has regained the upper hand. Investors feared a clear commitment from US Federal Reserve Chairman Jerome Powell to fight inflation.
Powell made exactly this commitment at the international central bank conference in Jackson Hole on Friday afternoon German time – and pushed the stock exchanges clearly into the red. The Dax lost 1.9 percent on Friday; in the USA, the S&P 500 and the Dow Jones fell more than three percent and the technology-heavy Nasdaq index even more than four percent.
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