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Dax slips below the 13,000 point mark: the main index could face a new wave of sales

Trader on the Frankfurt Stock Exchange

The hope for a calmer phase of the equity market is now out of date.

(Photo: dpa)

Dusseldorf The German stock market is down again. The Dax slid 2.3% in the morning to 12,992 points, a 300-point drop. The losses are substantial as the Dax is weakening relative to Wall Street.

The Dow Jones Index, which is relevant to the performance of the Dax due to its many industrial stocks, continued to rise after the close of trading in Frankfurt and closed trading with a rise of 2.2%. The Dax, on the other hand, gave up almost all of its gains in afternoon trading and closed with a mini plus of 0.2%.

Due to the price losses since the beginning of June, when the main index slipped from 14,709 to 13,007 points in a few days, the Dax is back on its downtrend since the beginning of the year. The stock market barometer had temporarily broken the trend line in mid-May. It starts with the annual high of 16,285 points in early January and builds on the other intermediate highs.

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