Frankfurt / Main (dpa) - The stock market week that began with a Dax record high ended on Friday with disillusionment.
Around noon, and thus in time for the so-called big decline on the Eurex futures exchange, the prices came under pressure and the losses increased more and more.
In the end, the leading German index posted a loss of 1.78 percent to 15,448.04 points.
On a weekly basis, the Dax lost 1.6 percent.
The MDax, which had climbed to a record high in early trading, fell 0.58 percent to 34,022.52 points.
With futures contracts and options on the Dax falling every three months, investors are trying to move prices in a direction that is favorable to them.
After the decline, the pessimists had apparently gained the upper hand in the market.
"Often, it is precisely these big expiration dates that are the linchpin in share trading," said market expert Andreas Lipkow from Comdirect.
Prices also went down in New York retail.
Market participants justified the selling pressure with statements from US Federal Reserve Banker James Bullard. In an interview, he brought an interest rate hike into play at the end of 2022. After the meeting of the US Federal Reserve on Wednesday, the market did not expect key interest rates to rise until 2023. "That dealt another blow to the markets this afternoon," wrote analyst Michael Hewson of trading house CMC Markets.
The next mark of around 16,000 meters is within reach for the Dax. The long-term trend is also clearly pointing upwards. But this is precisely where experts see a danger. “Risks are ignored within a very pronounced bull market,” warned analyst Christian Schmidt from Landesbank Helaba. The courses now reflected very high expectations. The relationship between opportunities and risks is no longer attractive.
At the end of the Dax, the shares of the consumer goods company Henkel lost 5.5 percent and fell to their lowest level since mid-March.
Analyst Iain Simpson of the British investment bank Barclays cut its estimate for earnings per share for the current year due to cost pressures from raw materials.
Brenntag's papers listed in the MDax rose by 1.3 percent.
The chemicals trader expects more profit for the current year than before.
The major European stock exchanges also suffered losses on Friday.
The EuroStoxx 50 fell 1.8 percent to 4083.37 points.
The Paris Cac 40 index fell a little less, and the London FTSE 100 fell almost two percent.
In the USA, the Dow Jones was a good one percent in the red at the close of European trading.
The euro fell to $ 1.1867.
The European Central Bank had previously set the reference rate at $ 1.1898.
On the bond market, the current yield fell from minus 0.28 percent the previous day to minus 0.31 percent.
The Bund future rose in the evening by 0.05 percent to 172.61 points.
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