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Price crash in Dow, Dax and cryptocurrency Bitcoin as well as tech crash on the Nasdaq

2022-05-06T05:52:34.577Z


The price drop in the USA pushed the Dax back well below the 14,000 point mark at the end of the week. The downtrend is intact, investors bring money to safety ahead of the US jobs data. Bitcoin is also collapsing.


Enlarge image

Dax and Dow under pressure:

The bear rules the stock market

Photo: Silas Stein/ dpa

The Dax remains under pressure at the end of the week.

The renewed price slide in the USA on Thursday is also affecting the leading German index, which is again well below the 14,000 mark.

The US leading index Dow Jones had lost more than 1000 points the previous evening, a loss of more than 3 percent.

The technology exchange Nasdaq even lost more than 5 percent in value.

The Dax fluctuated at 13,850 points on Friday morning.

In the first week of May, the index showed a minus of around two percent.

The stock markets are still gripped by the prospect of sharply rising interest rates combined with uncertain economic prospects.

In addition, investors are likely to wait for the US jobs report in the early afternoon.

US stock markets: Dow Jones dives, Nasdaq sell-off

The recovery on the US stock exchanges has already ended one day after the Fed's interest rate decision.

The

Dow

Jones

Index

of Standard Values ​​fell

more

than 3 percent on Thursday.

The broader S&P 500 fell 1.6 percent to 4,230 points.

The index of the technology exchange Nasdaq 100 even lost more than 5 percent in value.

Tech heavyweights like Tesla, Amazon and Alphabet each came under a lot of pressure.

The turnaround in New York was also considered the most important brake on the stock market in this country.

The reason for the renewed gloomy mood was rising bond yields and ongoing concerns about the economy.

Bitcoin tumbles below $37,000

The world's best-known digital currency, Bitcoin, also fell significantly and was last listed at around 36,800 US dollars.

That is around 8 percent less than the day before.

The cryptocurrency has been under pressure since the beginning of the year.

Bitcoin hit a record high of $69,000 in November last year.

Oil prices continue to rise

Oil prices continue to rise.

On Friday morning, a barrel (159 liters) of North Sea Brent cost $111.69.

That was 55 cents more than the day before.

The price of a barrel of West Texas Intermediate (WTI) brew rose 40 cents to $108.56.

Oil prices are also being boosted by the prospect of an EU embargo on Russian crude.

However, according to a proposal by the EU Commission, general transitional periods are planned.

In addition, the plan will have to be approved by all EU countries, which is uncertain.

According to experts, the medium-term price reaction on the oil markets will depend primarily on whether Russia can sell its oil elsewhere and whether there is sufficient capacity worldwide to replace Russian oil that fails.

With news agencies

Source: spiegel

All news articles on 2022-05-06

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