Stock exchange in Frankfurt: Dax starts weak in September

After the very weak August, the start of September was no better for the Dax.

Stock exchange in Frankfurt: Dax starts weak in September

After the very weak August, the start of September was no better for the Dax. The leading index fell close to 12,700 points to its lowest level since mid-July. In the first few minutes of trading, it lost 0.76 percent to 12,738.02 points. After the August minus of almost five percent, the low for the year marked at the beginning of July at 12,391 points is approaching.

The MDax lost even more on Thursday with minus 1.54 percent to 24,829.69 points, just like the euro zone index EuroStoxx 50 with a discount of 1.1 percent. The mood on the overseas stock exchanges was also bad overnight. Weak economic data came out of China with the Caixin Index slipping below the expansion threshold. In addition, the Chinese authorities again imposed a corona-related curfew, this time in the southwest Chinese metropolis of Chengdu.

In general, high inflation is currently the main stress factor for the markets. It is pushing the central banks to raise interest rates further, increasing concerns about an economic slowdown or a recession. The day before the landmark jobs report comes out of the US, investors are looking more closely at new economic indicators on Thursday - especially the ISM purchasing managers' index for US industry.

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