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Trembling curve:
Investors are very nervous ahead of the US central bankers' meeting
Photo: Frank Rumpenhorst/dpa
After the fall in prices at the beginning of the week, the German stock market initially recovered a little on Tuesday.
The Ifo business climate, Germany's most important economic barometer, rose from December to January for the first time since the middle of last year.
However, since
the US stock exchanges started trading again with losses in the afternoon,
the Dax also broke off its attempt to recover.
The leading German index is once again threatened with falling below the 15,000 mark.
The
Dax
was recently only 0.1 percent higher at 15,021 points. The mood remains nervous. The day before, the Ukraine crisis and the upcoming US central bank meeting had caused the leading index to fall by 3.8 percent. The Dax had not only dropped below its chart-technically significant 200-day trend line. The MDax also gave up its small gains.
In addition to Fresenius Medical Care
(plus 6.6 percent),
the few winners on the German stock market also included
Siemens Energy
with a plus of 4.7 percent.
The shares had lost a lot of feathers in the past few days due to ongoing problems at the wind power subsidiary Siemens Gamesa.
At times they had marked a record low of EUR 17.80.
The Biontech share also started to recover in the USA, increasing by around 6 percent.
Biontech's market value had previously halved within eight weeks.
Lufthansa plans deal with ITA
Lufthansa
shares
recently advanced by more than 2 percent.
The airline and the container and cruise line MSC are considering acquiring a majority interest in Alitalia's successor ITA Airways.
Both companies have expressed their interest, ITA said.
The Italian state should remain involved in the airline as a minority owner.
The Uniper title gained 0.8 percent.
The Canadian bank RBC upgraded the shares of the power plant operator and raised the price target.
Wall Street weaker again, Goldman Sachs expects interest rate shock
Wall Street initially picked up the slide in Europe on Monday before bargain hunters grabbed it again.
In extremely volatile trading, the Dow Jones and Nasdaq both ended slightly higher.
However, it is too early to give the all-clear.
The recovery attempt of the US stock exchanges did not initially continue on Tuesday either.
The correction thus continued on the day before the eagerly awaited central bank decision.
The leading index
Dow
Jones
Industrial fell by 1.2 percent at the start on Tuesday and threatens to slip below the round mark of 34,000 points.
The tech-heavy Nasdaq 100 lost about 2 percent.
Goldman Sachs strategists are now warning of an interest rate shock. What is meant by this is an excessively sharp tightening of monetary policy to curb inflation, which, according to the experts, could trigger a growth shock and weigh on the stock market. The risk of this is quite high, also because the inflationary pressure is currently much greater than at the beginning of the 1980s, it said. For highly indebted companies, for example in the technology sector, rising interest rates can become a problem. Inflation is also weighing on profit margins in the form of higher wages and raw material costs.
American Express also impressed with a strong jump in sales and profits.
But here, too, the papers contained the high pre-market price increase to 0.4 percent most recently.
According to quarterly figures, the shares of the pharmaceutical company Johnson & Johnson fell by half a percent.
Nvidia under pressure: Takeover of Arm threatens to fail
Nvidia fell by more than four percent in the weak tech sector.
According to insiders, graphics card specialist Nvidia no longer expects to take over chip designer Arm.
The reason for this is the ongoing headwind from competition authorities, as reported by the Bloomberg news agency, citing people familiar with the matter.
The telecom group Verizon, the conglomerate General Electric (GE) and the armaments group Raytheon Technologies are also on the lookout for quarterly figures on Tuesday.
After the market close, the software giant Microsoft opens the books.
Waiting for the US Federal Reserve
In early trading, the voices of the experts were even more pessimistic in view of the forthcoming interest rate decision and the worsening of the Ukraine crisis.
"If it was just Ukraine alone, people would ignore it, but that's the final straw today," said Gary Black of Future Fund Active ETF (FFND).
Eventually, investors worried that the Fed was making a monetary policy blunder.
"And that brings additional uncertainty."
At Wednesday's Fed interest rate decision, market traders will carefully assess how concerned the Fed is about rising inflation and how aggressively it will try to stem it with rate hikes.
A
rate hike of 25 basis points in March is already priced in on the money market, as well as three more by the end of the year.
Bidding competition causes price jump at Kohl's
On Wall Street, Tesla
shares closed
at a discount of "only" 1.5 percent - in the meantime the minus had been almost ten percent.
Tesla presented figures for the past fourth quarter on Wednesday.
Amazon papers even closed, as did Facebook and Google's parent company Alphabet.
The prospect of a bidding war for Kohl's brought the department store chain a 36 percent jump in price to $63.71.
According to insiders, financial investor Sycamore wants to outbid Acadia's offer of $64 per share.
In the room is an offer of 65 dollars per share or a total of around nine billion dollars.
Bitcoin starts recovery attempt
Cryptocurrencies also started a recovery attempt after the recent sell-off.
A bitcoin recently cost just under $37,000 after the world's most important cryptocurrency temporarily fell to $33,000 on Monday.
Since its record high of $67,000, Bitcoin has lost more than half of its market capitalization in ten weeks.
Trading remains extremely volatile: Since the low on Monday afternoon, Bitcoin has regained around 10 percent in value because crypto fans are hoping for a bottoming out.
Meanwhile, the narrative that cryptocurrencies like bitcoin work as an inflation hedge because the number of bitcoins is limited has been proven to be false.
As investors seek refuge in gold, the selling pressure on Bitcoin and other cybercurrencies has escalated over the past few weeks, falling even more than the stock market.
Stock exchanges in Asia remain in the red
In Asia, the stock markets did not follow the turnaround on Wall Street: The Japanese
Nikkei
closed 1.7 percent lighter at 27,120.40 points.
On the Chinese mainland stock exchange in Shanghai, the leading index plunged 1.6 percent to 3469.15 points and the Hang Seng in Hong Kong fell 1.6 percent to 24,256.47.
Oil prices are recovering somewhat
The oil price is on course for recovery after the recent sell-off on the stock exchanges.
The North Sea oil Brent rose in price by up to one percent to 87.11 dollars per barrel, US oil WTI is traded 1.1 percent higher at 84.24 dollars per barrel.
On Monday, prices had fallen by around two percent.
With news agencies
