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Nasdaq and Dow Jones fall, cryptocurrency Bitcoin plunges near $20,000

2022-06-28T21:02:19.711Z


Bull trap: In the US, the Nasdaq tech index and the Dow Jones standard index fall again. Bitcoin is also collapsing. For the Dax are the dark signs.


Enlarge image

Stock exchange in Frankfurt am Main:

The Dax should dive again on Wednesday

Photo: Arne Dedert / dpa

Another setback: The Dax closed the rather insignificant Xetra trade on Tuesday with a small plus of 0.3 percent, but slipped again significantly in late trading.

The reason for the renewed price weakness are the heavy losses on the Nasdaq and the Dow Jones.

The Dax should open clearly in the red on Wednesday.

The MDax for medium-sized stocks slipped into the red and fell by 0.13 percent on Xetra to 27,119 points.

The leading eurozone index, the EuroStoxx 50, rose by 0.3 percent.

This is also only a snapshot, both indices came under more pressure again in the evening.

Statements by central bank representatives made people sit up and take notice.

According to Martins Kazaks, Governing Council member of the European Central Bank, a larger rate hike of 0.5 points should be considered in July.

This statement had temporarily melted the price gains in the morning.

In addition, ECB President Christine Lagarde said the central bank could increase the pace of normalizing monetary policy in the face of inflation.

Aviation stocks in demand

Aviation stocks were in demand amid China's lockdown and resurgent tourism.

In addition, JPMorgan analyst David Perry referred to new forecasts from the umbrella organization of airlines (IATA), which appeared optimistic.

According to Perry, if the easing of the pandemic in Asia goes faster than expected, aviation suppliers could raise their profit forecasts.

In the Dax, MTU gained 3.2 percent and

Airbus

2.2 percent.

In the MDax,

Fraport

rose by 2.2 percent.

Lufthansa

reduced its plus to just 0.7 percent.

In view of a sharp increase in ticket demand, Lufthansa is now also putting the Airbus A380 wide-body jet back into operation.

Dow Jones and Nasdaq collapse again

After a friendly start, a renewed sell-off has set in in the USA.

Most recently, the

Dow

Jones Industrial

was 1.6 percent lower and fell below the 31,000 point mark.

The technology

-heavy Nasdaq 100 even fell by 3 percent to 11,181 points.

Heavyweights like Tesla and Amazon lost 5 and 5.2 percent respectively on Tuesday.

The sporting goods manufacturer Nike

, whose shares fell by 2.9 percent,

reported bad news the evening before the market closed .

The Adidas rival reported significantly lower sales and profits in the fourth fiscal quarter due to Covid lockdowns in China.

The quarter was mixed, judged JPMorgan analyst Matthew Boss.

The margin outlook was also criticized on the market.

Banks, on the other hand, trumped pre-market on Tuesday.

After passing the US Federal Reserve's stress test, the first major US financial institutions have presented new plans for distributing capital to their shareholders.

Among the winners were Morgan Stanley and Bank of America, with gains of 3.3 and 2.0 percent respectively.

Bitcoin falls below $21,000

The world's best-known digital currency, Bitcoin, was trading at around $20,983 on the Bitstamp trading platform in the morning.

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

Oil prices

rise on supply concerns

Oil prices rose on Tuesday.

Market observers pointed to concerns about falling supply on the world market.

In the morning, a barrel (159 liters) of North Sea Brent cost $116.70.

That was $1.61 more than the day before.

The price of a barrel of the US West Texas Intermediate (WTI) variety rose by $1.32 to $110.89.

The Brent oil price increased for the fourth consecutive trading day.

In the market, the increase was again explained by a drop in oil exports in Libya.

In the North African country, there were recently failures because production was stopped due to political protests in the east of the country.

Crude oil from the North Sea has increased in price by around 50 percent since the beginning of the year.

The consequences of the war in Ukraine and the end of the corona restrictions in many countries are considered price drivers.

Concerns about a slowdown in the global economy only had a temporary impact on oil prices.

With news agencies

Source: spiegel

All news articles on 2022-06-28

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