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Stocks – DAX continues downtrend – Economy

The crisis in real estate firm China Evergrande and the approaching deliberations of the Federal Reserve had European investors worried at the start of the week. On the first day after expanding to 40 values, a file was created Dax It fell 2.7 percent to 15,025 points and was not as low as it has been since the beginning of May. In particular, the imbalance in Evergrande caused investors to flee. “The government in Beijing doesn’t seem ready to help the company,” said analyst Christian Henk of brokerage IG IG. “The concern now is that more companies from this sector will be torn apart and that a new real estate crisis may develop from it.” Evergrande has accumulated a mountain of $ 305 billion in debt. In Hong Kong, group titles fell by a good ten percent. At the Federal Reserve’s interest rate meeting on Wednesday, investors feared signals that could point to a tightening of US monetary policy.

There are now ten new values ​​in DAX, including a new heavyweight with French-German aircraft manufacturer Airbus. M-Dax mid-size stocks were simultaneously reduced to 50 stocks, and the smaller stock index S-Dax also has several new members.

Particularly sensitive sectors of the economy, such as automakers and banks, have come under pressure. Deutsche Bank shares lost 6.2 percent at the end of the DAX, and as for Commerzbank, the M-Dax is down more than seven percent. Among auto stocks, Continental’s share recorded the largest losses, at 5.5 percent. The prospect of the US easing travel restrictions on vaccinated EU and UK passengers from November fueled airline stocks. The shares of British Airways subsidiary ICAG rose by 10.6 per cent, Lufthansa by 5.8 per cent, and Air France – KLM by 5.5 per cent. In the wake of a further decline in iron ore prices, steel values ​​were very weak, for example, Thyssenkrupp fell 5.5 percent. Concerns about the Evergrande Group on the Chinese crisis and a possible cut in economic aid by the US Federal Reserve have weighed on US stock exchanges. subordinate Dow Jones Listed 1.6 percent lower.