indices in this article
In the US leading index Dow Jones Industrial, the intermediate high of Friday was not followed by follow-up purchases, but instead slid back significantly below 24,000 points. The DAX had rebounded several times at the 10,700 point mark.
Turbulence on the oil market is a burden
Fear lines create turbulence for investors with historical losses on the oil market. Supply and demand are currently very different. The corona pandemic is paralyzing the already floating US economy – the need for the raw material is falling sharply as a result. The oil bearings threaten to overflow.
Should the US oil industry with its many smaller companies come under even greater pressure, experts fear a wave of bankruptcies that could possibly also affect the financial sector.
The day before, the price of a barrel of rohl (159 liters) of the American oil grade WTI had dropped below zero for delivery in May. This means buyers will receive money when they take the ls. Recently, however, there was a calming on the oil market. The oil price shows impressively how badly the economy is doing and that there will be no quick economic recovery, commented portfolio manager Thomas Altmann from QC Partners.
There is also speculation about political developments in North Korea, as the country’s ruler, Kim Jong Un, is reported to be in critical condition after an operation.
Reporting season is on its way
In addition, investors are looking forward to the reporting season now starting. SAP already submitted the key figures for the first quarter among the blue chips.
Editorial office finanzen.net / dpa-AFX
Image sources: PhotoSTS / Shutterstock.com
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