Dax at 9000 points – why the stock market crashes – Süddeutsche.de

• The Dax fell on Monday below the mark of 9000 points. He had with 12 300 points reached its highest level in its history in April, 2015.
• However, the outlook for the global economy are gloomy. Emerging markets have problems, the industrialized countries hardly grow.

analysis of Markus Zydra , Frankfurt

One has to guess it. Even in recent days, the rates had fallen in the equity markets over again in small steps. The investors have widely ignored – in the hope that the feeling would not be confirmed. On Monday, the Dax has fallen below 9000 points. This corresponded to a decline of three percent. So deep the Dax since October 2014 no longer. If round marks like these are breached, which ensures very disruptive. The fear of a wave of bankruptcies in the energy sector, the financial stocks under massive pressure

The share of Deutsche Bank lost 9.5 percent and closed at 13.82 euros -. So deep it has a trading day never ended. It was the day losers in the Dax. In the course of trading, the title of the money the house had temporarily slumped by 11.8 percent to 13.46 euros – and only were slightly above in January 2009 laid down in the course of trading record low of 13.39 euros. The German bank tried to calm after the crash, investors. The bank had enough money to serve special bonds, the bank said on Monday evening. After a record loss of nearly seven billion euros, numerous investors took care, the Bank could be required to withhold the interest on these bonds. These bonds are only used when the capital of Deutsche Bank sufficient. Other financial stocks closed deep in the red. Shares of Commerzbank also lost 9.5 percent, the title of the French Societe Generale and Banco Santander each losing about six percent. The European banks index fell 5.6 percent to 138.18 points.

Chesapeake Energy stated not to apply for bankruptcy. Only that calmed the market

The trigger for the development of the applicable rate fall of heavily indebted second-largest US natural gas producer Chesapeake Energy. Meanwhile volatile in the past titles halved its value to $ 1.50 temporarily. The company was the first downward movement stop by the declaration to be apply for bankruptcy. Already circulating forecasts that expect a crash Dax up to 8000 points.

It is bad enough. Since the beginning of the most important German stock market has lost 16 percent of its value. The growth forecasts were last failed increasingly pessimistic. In these phases, the herd mentality of investors is particularly pronounced. They sell stocks whenever it do all the others.

In April 2015, the DAX had reached 12 300 meters the highest quotation of its history. At that time there was euphoria everywhere. The equity investment was the professionals as the benchmark in a period since interest securities hardly yield returns because of low interest rates. But in the summer of 2015, the decline in growth in China destroyed the dream of rising rates.

Who is it aimed at? Markets call back to the central banks

Another example:. Brazil’s economy shrank in 2015 by 3.7 percent and is in the most severe recession since the 1930s. The companies in other emerging markets suffer from dangerous indebtedness. At the same time, the recovery increased in the United States. The growth forecasts for Japan decline. And the situation on the European continent is not much better.

“The investor can to the development of the global economy do not form a definitive opinion. But the risks of recession and deflation are increasing,” says Francois Savary, investment strategist at Prime Partners in Geneva.