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US News Selling wave: DAX closes below 11,600 points

19:30  28 october  2020
19:30  28 october  2020 Source:   finanzen.net

Covid-19. In the United States, a "third wave" looms

 Covid-19. In the United States, a © JONATHAN ERNST / REUTERS US President Donald Trump throws a mask to the crowd during his first campaign rally in Florida on Monday October 12th. After being hospitalized for a few days because of the coronavirus. The United States faces what looks like a third wave of the Covid-19 epidemic. The country recorded 52,774 new cases linked to the novel coronavirus on Oct. 17, after a relatively calm end to the summer.

The German stock market only knew one direction on Wednesday: South.

DANIEL ROLAND/AFP/Getty Images © Provided by Finanz.net DANIEL ROLAND / AFP / Getty Images

In view of the worsening Corona crisis, the DAX fell below the 12,000 point mark on Wednesday for the first time since June. With 11,848.31 points, the leading index recorded a discount of 1.78 percent at the start on Wednesday. In the process, however, things went much deeper downhill. The German benchmark index marked its daily low at 11,457.12 digits. It finally left the trade at 11,560.51 points (-4.17 percent).

The sell-off wave continued at high speed on the German stock market on Wednesday. The sharply falling prices reflected investors' fear of a new lockdown.

DAX goes higher in the day - investors rely on agreement on US stimulus package

 DAX goes higher in the day - investors rely on agreement on US stimulus package In the middle of the week, investors access the German stock market. © Provided by Finanz.net PHILIPPE HUGUEN / AFP / Getty Images The DAX gained 0.22 percent to 12,764.45 points at the start of the session. Now that, contrary to expectations, negotiations for a US economic stimulus package are being continued, investors on the German stock exchange are cautiously optimistic.

The second corona wave is rolling over Europe, lockdowns or partial lockdowns were emerging in France and Germany, and business prospects and economic indicators in the euro zone deteriorated rapidly, summarized the experts from Société Générale . The market has started to incorporate further lockdowns - whether partially or completely - into the courses, explained analyst Milan Cutkovic from broker Axi.

The federal and state governments are currently discussing the next steps to contain the pandemic. A further tightening of the restrictions is emerging. Chancellor Angela Merkel (CDU) wants to close restaurants for a month. Finanzen.net / dpa-AFX

Dax sets course for the 12,000-point mark .
On the day of the presidential election in the USA, the signs on the German stock market point to further recovery. The Dax advanced in early Tuesday trading by 1.42 percent to 11,955.57 points. © Fredrik von Erichsen / dpa The Dax is the most important stock index in Germany. On Monday it had already increased by two percent after losing almost nine percent in the previous week in the worsening of the Corona crisis. investors hope for a clear election result in the United States.

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