FRANKFURT (dpa-AFX) - A new attempt at recovery on the US stock markets has at least slightly slowed the slide on the German stock market ahead of the weekend. However, skepticism about high valuations in the technology sector continued to weigh on investors on Friday. The temporary relief following strong quarterly figures from Nvidia turned out to be a flash in the pan, wrote Jürgen Molnar, capital market strategist at broker Robomarkets. The DAX has yet to find its footing.
After sliding to 22,943 points, its lowest level since the beginning of May, the German benchmark index ultimately lost 0.80 percent to 23,091.87 points. Although the DAX extended its weekly loss to 3.3 percent, it remains up 16 percent for the year. The MDAX, which tracks mid-cap stocks, fell 0.63 percent to 28,263.82 points on Friday.
Market observer Stephen Innes of SPI Asset Management sees a whole series of concerns on the stock markets. Among other things, he cited the high pace of investment in artificial intelligence, which is clearly lagging behind monetization. In addition, the US Federal Reserve is stumbling half-blind into December after the partial government shutdown delayed numerous economic data releases. This reinforces the assumption that the Fed will be able to refrain from further interest rate cuts this year.
