Business

Dax slides again after the sell-off of US tech stocks

Dax curve

The main German index is in a downtrend this year.

(Photo: Bloomberg Creative / Getty Images [M])

Dusseldorf Another sale of US tech stocks is slowing the upward movement of the major German index. The Dax fell 1.7% Thursday afternoon to 13,591 points, a drop of 280 points. The daily minimum is 13,479 points. At this point, all of the previous day’s earnings were gone.

On Wednesday, the stock market barometer rose 2.2% and closed at 13,828 points, up 550 points from last Monday’s low.

The situation for US tech stocks is dire. The Nasdaq closed 3.2% lower on Wednesday. Since April 1 of this year, this index has lost more than 20% in value, while the Dax has lost 6% and thus achieved a lower negative sign than the Dow Jones index.

According to calculations by Thomas Altmann of investment house QC Partners, the Nasdaq 100 selection index has lost almost as much since November last year as it did during the Covid 19 sell-off in 2020.

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