The Dax fell below the 9000 point mark on Monday.
It was violent again: First the leading index Dax (German share index) plummeted by almost 11 percent – lowest level since 2013! Then, on Monday afternoon, a small countermovement started on the stock exchanges in Germany, Europe and the USA.
Closing price: At the end of trading, the Dax was down 5.31 percent to 8742.25 points. The index was not granted a jump back above the 9000 point mark throughout the day.
The measures taken by several central banks around the world were also unable to prevent the price losses. Of the 30 DAX stocks, ten stocks suffered double-digit percentage losses.
The MDax of medium-sized stocks lost 8.8 percent to 18,479.94 points, fell below the 20,000 point mark and reached its lowest level in February 2016.
Losses in record time
The Dax has lost almost 40 percent of its value since its record high, in record time! For the Dow Jones, S&P and Nikkei, the minus is more than a quarter each.
“This is a proper correction. Most of the way, however, we will most likely have behind us, ”said Robert Greil, chief strategist at Merck Finck.
BILD app users can see here how badly the Dax has crashed
The German stock market has never gone down so quickly: it was only on February 19 that the Dax reached its record high of 13,789 points. This left him with just three weeks for his previous crash.
►For comparison: After the collapse of the Neuer Markt at the beginning of the millennium, followed by the attacks on September 11, 2001, the Dax lost a total of a good 70 percent in value – but it also took almost exactly three years.
And the 2008 financial crisis still had one and a quarter years between the high in December 2007 and the low in March 2009.
However, experts doubt that the low point has already been reached: the hysteria among the population will continue to increase, said Mark Dowding, chief investor at the fund company BlueBay. “As financial markets are always trying to estimate and adjust to future developments, we believe that the peak of the current sell-off could be reached in the next few weeks.”
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