FRANKFURT (dpa-AFX) – The DAX fell back below the 24,000-point mark on Friday. In early trading, it lost 0.58 percent to 24,903 points. The MDAX, which tracks medium-sized companies, fell 0.61 percent to 29,431 points. The Eurozone’s leading index, the EuroStoxx 50, fell by 0.7 percent.
Hoping for the now sealed end of the longest partial shutdown of US government operations to date, the DAX initially gained ground this week before a sharp correction on Thursday slowed the rally toward October’s high of 24,771 points. With the current decline, the chart picture is clouding over again, and the record high is receding somewhat.
In the US, profit-taking weighed on the indices the day before, with the Nasdaq stock exchange, which is heavily concentrated in technology stocks, being particularly hard hit. Following comments by Fed members, investors are doubtful that the US Federal Reserve will cut interest rates again in December. To assess the economic situation, they are eagerly awaiting economic data, which can now be published again after the end of the shutdown.
The US stock markets also reacted to cautious statements by various members of the US Federal Reserve. Expectations of a further interest rate cut by the Fed before the end of the year fell significantly as a result./ajx/mis
