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Weak US exchanges send the Dax below 14,000 points

Dax curve

The main German index is in a downtrend this year.

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

Dusseldorf The German stock market slid significantly into the red following poor US specs on Tuesday afternoon. The Dax fell 1.2% to 13,756 points from trading. Market watchers are increasingly worried about the economy ahead of the first data from big tech companies and fear an even tighter monetary policy.

Until the afternoon, the focus of the Dax was still the psychologically important mark of 14,000 points: until the opening of the American stock exchanges, the leading index had always been above the mark.

US bank JP Morgan expects equity markets to pick up despite weakness over the week. Analyst Marko Kolanovic wrote that the markets are oversold and the general mood is bad, which investors can use to make strategic purchases. A month ago he advised taking a profit.

Perhaps a first preliminary decision will be made after the US market closes. Then heavyweights Microsoft and Google’s parent company Alphabet will release their quarterly figures.

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