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DAX Dips As Recession Concerns Mount
(RTTNews) - The German stock market benchmark DAX plunged again for the fourth successive day as recession fears dampened market sentiment. The energy crisis as well as the fears of harsh monetary policy environment globally exacerbated the sell-off across sectors.
The forty-scrip DAX index is currently trading at 12,753.35, down 1.57 percent on an overnight basis. The day's trading has been within the range of 12,696.01 and 12,837.20.
All scrips in the 40-scrip index are trading below the levels on Thursday. Porsche Automobil Holding and RWE recorded least losses of less than 0.10 percent. Deutsche Post and Daimler Truck Holdings have both declined more than 6 percent. MTU Aero Engines and Brenntag have both declined more than 3 percent.
Deutsche Post is the is the most active scrip with a turnover of 1.78 million euros. The EUR/USD pair is at 0.9980, declining 0.19 percent overnight amidst the US Dollar Index strengthening 0.15 percent to 109.90.
The ten-year bond yield has increased 2.97 percent to 1.7845 percent versus 1.7330 percent on Thursday.
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