The Dax is still in the red and fell to its lowest level since mid-July on Thursday. High inflation and the associated expectation of sharply rising interest rates are still keeping investors from buying. Added to this is the turbulence on the energy markets. The Dax fell by 1.60 percent to 12,630.23 points. The MDax even lost 3.18 percent to 24,415.91 points and fell to its lowest level since May 2020.

Above all, the tough stance of the US Federal Reserve Bank on inflation is a heavy burden for the markets from an investor's point of view, wrote analyst Pierre Veyret from broker ActivTrades. Because the prospect of sharply rising interest rates is accompanied by increasing evidence of an economic slowdown. New lockdowns in China would now make matters worse.