Ukraine crisis: Dax collapses - leading index over 700 points in the red

Created: 02/24/2022, 09:56 am

By: Patrick Freiwah

Frankfurt skyline under a cloudy sky - in February 2022 the Dax rushed into the depths.

© Markus Tischler/Imago

The Ukraine conflict has been viewed with great concern by stock market investors for some time.

After the latest developments, the Dax rushes down rapidly.

Frankfurt/Munich – The recent events in the Ukraine conflict* with the Russian attacks sent stock markets around the world plummeting.

Important stock market barometers in the United States fell on Wednesday, and prices in Asia also fell sharply the following day.

The leading German index Dax* was also under pressure - and has now slipped down by almost 700 points!

The value lost 4.4 percent in the first few minutes and dropped to 13,986 digits.

MDax, SDax and TecDax fell by 3.6 to 4.5 percent, as

reports.

Dax rushes off because of Ukraine - fears of new increases in commodity prices

Another concern: soaring commodity prices could fuel already high inflation and worsen the consequences for consumers*.

Oil prices have already risen sharply, with a barrel (159 liters) of North Sea Brent costing over $100 for the first time since 2014.

Most recently, the Brent price rose $4.50, or 4.65 percent, to $101.34.

This means that the plus in 2022 will already add up to around 30 percent after the price had already doubled last year.

How are investors reacting?

Many fled to gold or German government bonds: A troy ounce of gold (around 31.1 grams) cost 1949 US dollars in early trading – the highest level since January 2021. The German bond market* also rose: on Thursday morning the trend-setting futures contract euro- Bund future by about one percent to 167.64 points.

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Stock market in Russia: Losses in just under a week a third

Before that, the Dow Jones Industrial in the USA fell to just under 33,085 points, its lowest level since last spring.

The broad S&P 500 lost 1.84 percent to 4225.50 points.

It also fell to its lowest level since June 2021, as did the technology-heavy Nasdaq 100, which ended up losing 2.60 percent to 13,509.43 points.

Investors continued to withdraw from the Russian stock market following Russia's attack on Ukraine.

Shortly after the start of trading, the RTS index collapsed by a fifth to 966 points.

Within six trading days, the losses add up to more than a third.