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Bitcoin fell on the stock exchange, Nasdaq and Dax fell

2021-12-03T21:27:32.464Z


The omicron variant of the corona virus sends the Dax further down. In the US, the Nasdaq tech index collapses. And the cryptocurrency Bitcoin is also losing massively in value.


Enlarge image

Stock exchange in Frankfurt:

The Dax is tumbling downwards

Photo:

Frank Rumpenhorst / dpa

Price slide on the stock and crypto exchanges: A sell-off in US technology stocks as well as in the crypto currencies Bitcoin and Ether sent the indices down again on Friday. In view of the worldwide spread of the Corona mutation Omikron and in view of the continued high inflation, investors shied away from the risk. They sold stocks as well as crypto assets on a large scale. The wave of sales contributed to the fact that the Chinese real estate giant Evergrande warned of a possible insolvency in the afternoon.

The

Dow Jones index of

the standard values ​​was able to limit its losses in the last few minutes of trading and closed only slightly lower.

The index of the technology

exchange

Nasdaq 100

collapsed at times by around 3 percent and then closed almost 2 percent weaker at 15,712 points.

Investors parted ways with big

tech stocks like Tesla, Nvidia, Microsoft and Apple

, which each fell between 4 and 6 percent.

The increase in jobs in November turned out to be significantly lower than expected, which at least dampened speculation that the US Federal Reserve would curb its securities purchases more quickly.

In November, only 210,000 new jobs were created outside of agriculture, experts had expected 550,000.

"That can give the Fed the air to decide not to go any faster in December," said Thomas Hayes, executive member of asset manager Great Hill Capital in New York. In mid-November, the Federal Reserve began scaling back its asset purchases by $ 15 billion a month. Some central bankers had recently pleaded for more speed. The end of the so-called tapering is a prerequisite for a turnaround in interest rates.

The dollar went up and down, the euro leveled off again at just under $ 1.13 after a temporary increase.

Government bonds were in demand as a safe haven.

As a result, the yield on ten-year US paper fell to 1.387 percent.

This was the first time since September that it was below the 1.4 percent mark.

The gold price also rose, with the troy ounce rising by half a percent to $ 1,777.

Didi withdraws from the US stock exchange

The proposed withdrawal from Wall Street weighed on Didi's shares.

The papers of the Chinese travel agent collapsed in New York by up to 16.7 percent to a record low of 6.50 dollars.

Shares in other Chinese companies such as Alibaba, JD.com and Vipshop also fell significantly.

Uber competitor Didi went public five months ago, despite the Chinese government's request to postpone the plans, and has been the target of regulators in the People's Republic ever since.

Dax only just over 15,000 points

Price losses in Germany too: The Dax's attempt to recover on Friday failed for the time being: The German benchmark index gave up its initial gains and increased its losses in late trading.

Most recently, the Dax fell below the 15,200 mark - so the round mark of 15,000 points is also in danger.

The MDax of medium-sized companies also fell, as did the leading Eurozone index EuroStoxx 50.

In view of the uncertainty caused by Omikron, market observer Michael Hewson from broker CMC Markets compared the past few days with a roller coaster ride of prices and feelings.

The experts at Landesbank Helaba see the danger for the Dax not yet averted.

Another focus for them is the battle for the technically important 200-day line - most recently the index was clearly below it.

Bitcoin gives way significantly in late trading

Unrest also on the crypto exchanges: Bitcoin, the world's most famous digital currency, significantly increased its losses on Friday and was at times 8 percent in the red.

Most recently, Bitcoin fell below the $ 55,000 mark.

Three weeks ago, Bitcoin was still trading at $ 68,000.

Since then, the cyber motto has lost around 20 percent of its value.

The crypto currency Ethereum also increased its losses significantly on Friday.

Asia's investors are taking hold

On the stock exchanges in Asia, however, investors had used the recent price losses to re-enter.

The Japanese Nikkei index closed after initial losses on Friday one percent plus at 28,030 points.

The Shanghai Stock Exchange gained similarly strong to 3604 points.

The roller coaster ride of the past few days should go on for a while, said Masahiro Ichikawa, chief investment strategist at wealth manager Sumitomo Mitsui DS.

Oil prices are increasing

Oil prices rose sharply, although the large exporting countries did not pause as hoped with their monthly expansion of production capacities.

The BrentLCOc1 variety from the North Sea rose by more than 2.5 percent to $ 71.40 per barrel (159 liters).

In the stock markets, the oil and gas sector was one of the biggest winners.

Chevron's papers gained 1.4 percent.

In the first few days of trading in December, there were strong price fluctuations on the oil market in connection with a meeting of the OPEC + oil association.

The alliance of oil states, led by Saudi Arabia and Russia, has decided to hold on to its planned production increase despite global concerns about Omikron.

However, the OPEC + ministers assured that they will keep a close eye on the global corona development "and will make quick adjustments if necessary".

On the market, the current rise in oil prices was explained with the insurance company Opec +, if necessary to react to an escalation of the corona crisis.

At the end of November, the appearance of the variant classified as worrying triggered a rapid decline in oil prices.

With news agencies

Source: spiegel

All news articles on 2021-12-03

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