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Record chase stopped: The price slide on the Nasdaq initially continued
Photo: JOHANNES EISELE / AFP
Investors in Europe remain cautious.
After the profit-taking the day before, the Dax started a recovery attempt on Friday and last fluctuated around the 13,000 point mark.
Most recently, however, the German benchmark index turned into the red again, as the Nasdaq 100 in New York initially continued its price slide with a minus of 2 percent.
The tech index lost almost 8 percent of its value within two trading days.
The shares of the Nasdaq heavyweight Tesla also fell further and temporarily fell below the $ 400 mark.
The technology indices, which had run hot in New York, were sharply thwarted the day before and had dragged other exchanges down with them.
The recovery in the US labor market from the wave of layoffs caused by corona in the spring is slowing.
In August, 1.371 million jobs were created outside of agriculture, the government announced on Friday.
Economists polled by Reuters had expected 1.4 million, after more than 1.7 million in July and just under 4.8 million in June.
The unemployment rate determined in a separate survey fell surprisingly significantly to 8.4 from 10.2 percent.
A decline to 9.8 percent was expected here.
"After initially racing to catch up, the US labor market is slowly running out of breath," said economist Bastian Hepperle from Bankhaus Lampe.
In Germany, too, the increase in orders for German industry in July was lower than expected.
"The easily accessible fruits have been harvested, now the economic catch-up will lose momentum," warned LBBW economist Jens-Oliver Niklasch.
Gold price continues to fall - end of the gold price rally?
On the foreign exchange market, the dollar went up according to the US data: In return, the euro fell 0.4 percent to 1.18 dollars.
The gold price slipped into the red and was quoted 0.7 percent weaker at 1917 dollars per troy ounce (31 grams).
The silver price also fell.
Copper, however, rose 1.4 percent to $ 6,655 per ton.
The important industrial metal profited from the upturn in the economy in China, where the purchasing managers' indices signaled solid growth this week.
In addition, the warehouses emptied, the experts from Fitch Solutions wrote: "We believe that the warehouses can be further reduced by mid-October."
Dax, Dow and stocks at a glance:
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US stock exchanges: Dow Jones attempts to recover, Nasdaq continues slide
Nervousness on the US stock exchanges: The
Dow
Jones
Industrial
started trading on Friday 0.90 percent at 28,547 points.
On Thursday, the most famous American stock index fell by almost three percent.
The tech index Nasdaq 100, on the other hand, started again in the red after its price slide from the previous day and
fell by 1.8 percent to 11,568 points
after it had already crashed by around 5 percent on Thursday.
The shares of Tesla
and Apple fell again between 3 and 5 percent
: The paper from Tesla, which was quoted at $ 500 on Monday, temporarily fell below the $ 400 mark.
The share has thus lost around 20 percent of its value within a week.
However, the correction is taking place at a high level: Since the beginning of the year, the Nasdaq 100 has still posted a full plus of almost 35 percent, making the stock market barometer one of the few winners worldwide.
Broadcom's shares rose on Friday against the trend by more than one percent.
The semiconductor company had already presented quarterly figures on Thursday after close of trading that were better than expected.
Before that, the titles had paid tribute to their latest record highs in the wake of the weakness in the industry and lost around six percent.
In contrast, technology giants such as Apple, Amazon and Alphabet went down again - even if the discounts initially remained moderate.
Banks asked about possible merger in Spain
Bank stocks were particularly popular on the stock market: Deutsche Bank shares were at the top of the Dax with a plus of up to 4.8 percent, while Commerzbank led the list of winners in the MDax average index with a premium of 8.4 percent.
The European banking index was 1.8 percent higher.
In the European banking sector, there were significant gains in the face of an imminent merger between the Spanish institutes Bankia and CaixaBank.
In the Dax, Deutsche Bank were ahead with plus 4.2 percent.
Commerzbank gained almost 8 percent in the MDax.
In Spain, the banks Bankia and Caixabank want to merge to form the largest financial institution in the country.
The papers of the Bankia, which were rescued by the state after the financial crisis, shot up by almost a third, the papers of the Caixabank gained almost 14 percent.
Among the individual stocks, the Dax also focuses on Vonovia shares following a capital increase.
The housing company wants to use the proceeds to repay debts due in the fourth quarter and make new investments.
The papers gave way by around four percent.
The day before they had reached a record high in early trading.
Investors are now taking profits, especially since a capital increase is generally a burden.
The stocks of the plastics group Covestro gained almost 3 percent in the Dax.
The drivers here are a buy recommendation from Commerzbank and remaining in the Dax.
As Deutsche Börse announced on Thursday evening, there will be no changes in the first German stock exchange league in September.
In Asia, the stock markets fell on Friday, mainly due to the weak guidance from the United States.
In Japan, the leading index Nikkei-225 lost a little more than one percent just under half an hour before the end of trading.
From a weekly perspective, the Nikkei-225 is still slightly in the plus.
In China, it recently fell by around one and a half percent and there were also significant losses on other stock exchanges such as Hong Kong.
Euro stable above $ 1.18
The euro barely moved in early trading on Friday.
In the morning, the common currency cost 1.1850 US dollars, which is the same as the night before.
The European Central Bank (ECB) had set the reference rate on Thursday afternoon at 1.1813 dollars.
Oil
prices
hardly changed after the price slide
On Friday, oil prices continued their losses from the previous day.
In the morning a barrel (159 liters) of North Sea Brent cost 43.70 US dollars.
That was 37 cents less than the day before.
The price of a barrel of the US West Texas Intermediate (WTI) fell by a similar amount to $ 40.99.
Crude oil prices are currently burdened primarily by two developments.
On the one hand, the generally stronger US dollar has resulted in lower demand from many countries.
Since oil is traded in the American currency, interested parties outside the dollar area often hold back when the dollar rises.
A second negative factor is the recently gloomy mood on the stock markets.
After a series of records, the American stock exchanges fell sharply on Thursday.
Crude oil is considered to be a rather risky form of investment that is often negatively impacted by falling share prices.
akn / dpa-afx, Reuters
