Crash in rates on the stock exchange: Nasdaq with a fall in price, Tesla shares and cryptocurrency Bitcoin with a price slide

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Deutsche Börse in Frankfurt:

The crash on the Nasdaq should put the Dax under pressure again

Photo: DANIEL ROLAND/ AFP

The crash in installments continues: The renewed attempt to recover on the US stock exchanges also failed on Wednesday.

Again, it was the prices of the tech giants that dragged markets down with them.

Heavyweights like Apple, Amazon and Microsoft came under significant pressure.

Tesla stock fell more than 7 percent.

The technology-heavy Nasdaq 100 lost 3.06 percent to 11,967 points by the close in the US and fell below the 12,000 point mark for the first time since November 2020.

Selling pressure increased in late trading.

The leading index

did better than the Nasdaq stock exchange with a discount of 1.02 percent to 31,834.11 points.

Still, the Dow is testing its lowest level since March 2021.

Tech stocks were also the biggest losers in the Dow, as rising interest rates weighed primarily on growth stocks from the technology sector.

The market-wide S&P 500 fell 1.65 percent to 3935.18 points, its lowest in more than a year.

Headwind on the stock market was again inflation: Consumer prices rose by 8.3 percent in April over the year.

Analysts had expected a lower increase on average.

"Inflation is likely to fall, but not as much as the central bank hopes. The Fed remains under pressure," commented economist Christoph Balz from Commerzbank.

Inflation is also likely to remain higher than before the pandemic.

Because of the tight labor market, wage costs have risen more than they have in at least 20 years.

Saudi Aramco overtakes Apple

The news that the world's largest oil company, Saudi Aramco, has replaced the technology group Apple as the world's most valuable company caused a stir on Wall Street.

While Saudi Aramco's price had benefited from high oil prices in recent weeks, the iPhone manufacturer's paper had come under increasing pressure due to rising capital market interest rates and growth concerns.

This Wednesday, Apple fell more than five percent to its lowest level in half a year.

Tesla stock fell more than 8 percent to close at $734.

The prospect of rising interest rates is causing investors to sell technology stocks in particular.

Because in the long phase of cheap money, investors had increasingly relied on high-growth tech companies.

Now, however, interest rates are likely to rise sharply in view of the high inflation, which could mean that Apple, Amazon & Co are overvalued.

Amazon and Microsoft each fell more than three percent.

Because of these giants' heavy weighting in stock market indices, weak share prices are dragging the indices down with them.

Papers from Unity Software experienced a price debacle.

The 3D game developer's revenue target fell short of expectations.

That caused the price to collapse by more than 37 percent to its lowest level since the IPO in September 2020.

Unlike Electronic Arts, here analysts praised the game developer's more optimistic goals for the fiscal year.

The course rose by eight percent.

Moderna fires CFO

A disappointing second-quarter revenue target from payment processor Paysafe weighed heavily on the stock, which fell 16.2 percent.

Moderna shares fell 6.7 percent.

The vaccine manufacturer fired CFO Jorge Gomez almost immediately after he took office.

Moderna said the reason was an internal investigation into financial reports from his previous employer Dentsply Sirona.

The euro gave way and was last listed at $ 1.0515.

The European Central Bank (ECB) had set the reference rate at 1.0553 (Tuesday: 1.0554) dollars.

The dollar had thus cost 0.9476 (0.9475) euros.

On the bond market, the futures contract for ten-year Treasuries (T-Note Future) rose by 0.37 percent to 119.22 points.

The yield on ten-year government bonds fell to 2.92 percent

Dax is likely to fall again on Thursday

The Dax is likely to come under pressure again on Thursday because of the price slide in the USA.

On Wednesday, the leading index Dax went up 2.17 percent to 13,828 points.

That was the highest one-day gain in six weeks.

But a renewed fall towards 13,500 points is likely.

"The financial markets are now reacting overly sensitively to only slight deviations in inflation data from the consensus estimate," said the chief economist at Liechtenstein-based VP Bank, Thomas Gitzel.

"There was a brief fear that the Fed could now act even more aggressively," said the expert.

Bayer loses, Thyssenkrupp wins in double digits

In the legal dispute over the alleged cancer risks of the weed killer glyphosate, there was another setback for the agrochemical group Bayer.

The papers, which had been boosted by strong numbers the day before, fell by 6.2 percent at the end of the Dax.

In the middle of the week, there was also a legal dispute at

.

However, the news of related additional provisions did not weigh on the insurer's price.

On the contrary: the papers gained 5.9 percent at the top of the Dax.

According to the group, the dividend policy remains unaffected by the provisions.

Bitcoin falls to $29,000

The world's best-known digital currency, Bitcoin, fell sharply in late trade on Wednesday, falling below the $30,000 mark.

The cryptocurrency has been under pressure for weeks.

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

Since then, the rating has more than halved.

Oil prices are increasing

Oil prices partially recovered from their recent losses on Wednesday.

Most recently, a barrel (159 liters) of North Sea Brent cost 107.40 US dollars.

That was $4.94 more than the day before.

The price of a barrel of the US West Texas Intermediate (WTI) variety rose by $5.46 to $105.23.

On the market, the price premiums were justified by the somewhat more favorable corona situation in China.

The metropolises of Beijing and Shanghai recently reported a fall in the number of infections.

This brings the possibility of lower corona restrictions into focus.

For weeks, the Chinese leadership has been taking strict curfews against the spreading virus.

The domestic economy and oil consumption will be severely affected as a result.

The surprising increase in crude oil inventories in the USA did not weigh on oil prices.

Inventories climbed 8.5 million barrels to 424.2 million barrels compared to the previous week, according to the Department of Energy.

Analysts had expected a drop of 1.5 million barrels on average.

However, oil production declined.

On the two previous days, oil prices had come under severe pressure.

The WTI price had even fallen below $100 for a short time.

Although oil prices have struggled to find a clear direction in recent weeks, they are at high levels.

Since the beginning of the year, the increase has been around 35 percent.

The decisive factors are Russia's war against Ukraine and severe sanctions, primarily by western countries, against Russia, which is one of the world's largest oil producers.

With news agencies