German DAX falls 2 percent Friday lowest level in seven months

BERLIN, August 21 – The German stock markets started with losses on Friday trading. The DAX slipped on Friday by two percent to 10,228 meters, the lowest level in seven months. Since beginning of the month he comes to a minus of nearly eight percent.

TRANSLATION / Die Welt

The Tecdacx launched at a substantial discount of 2.4 percent at 1645.50 points. The saving is mainly the growing worries about the weakening Chinese economy. In August, the industry as much as six and a half years since shrank not there. The purchasing managers’ index for the manufacturing sector of the business magazine “Caixin” fell to 47.1 points in August. Analysts had expected a value of 48.2.

The Tokyo Stock Exchange on Friday responded extremely nervous. The Nikkei index of 225 blue chips fell far below the mark of 20,000 points.

At the end of the Nikkei recorded a sharp discount of 597.69 points or 2.98 percent to 19 435.83 points. This is the lowest level for around three and a half months.

Signals a weakening of the Chinese economy press on oil prices because China is now the largest oil consumer in the world and the demand is weakened by an economic slowdown.

The depreciation of the Yuan recently triggered shock waves because it was considered by the slump in export figures of the vast country as a sign that China’s economy is lame.

Oil prices are already since the beginning of July more or less on a downward slide. Cause is a too high offer on the world market. Especially the high flow rates of the Organization of Petroleum Exporting Countries (OPEC) and the shale oil production in the United States provide the oil glut.

Fear of rising interest rates in the U.S.

These concerns about the global economic development and, in an early increase in the US interest rates have the Dow Jones Industrial Average down on Thursday at 17,000 points. With a fall of 2.06 percent to 16,990.69 points of the world’s leading index on Wall Street closed at its lowest level since October 2014.

Investors feared the spread of the currently weakening Chinese economy to other countries, it said. At the same time current US economic data have shown predominantly a robust picture of the economy in the United States.

On the part of the companies, there were very few cases up quarterly reports. The computer manufacturer Hewlett-Packard (HP) and the software company Salesforce.com released their numbers after the market closes. Previously, HP papers had 1.41 percent weaker and closed by Salesforce.com just under six percent.

TRANSLATION / Die Welt

Sorge um China belastet globale Märkte