This was announced at the weekend, head of the Eurogroup Mario Centeno

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This was announced at the weekend, head of the Eurogroup Mario Centeno

Osram shares, on the other hand, fell by 13.6 percent. The company is taken over by the chip manufacturer AMS. However, its share price has plummeted by almost 80 percent since mid-February. Dealers suspect that a capital increase planned by AMS to finance the Osram takeover could therefore fail. That weighs on the Osram course.

FRANKFURT (dpa-AFX) – As a result of the worsening coronavirus crisis, the German Dax share index fell below 9,000 points on Monday. Shortly after the start of trading, the stock market barometer fell to 8715 points. That was a decrease of 5.6 percent compared to the closing level on Friday and at the same time the lowest level since February 2016.

From January 2021: These health insurances increase the additional contribution New resolution: Costs for courts and lawyers rise Judgment: Tennis instructor with a broken wrist is unable to work Due to sales ban: Manufacturers collect fireworks and firecrackers again Care for 10,000 children: Ikea opens second furniture store in India

It was only on Thursday that the Dax closed with the second largest percentage daily loss in its thirty-year history, below the 10,000 mark. On a weekly basis, there was a minus of around 20 percent.

On Monday morning, prices in Asia had already slipped further. The Japanese leading index Nikkei-225 lost a good 2.5 percent to 17,002 points. In China it went for the CSI with the 300 most important stocks of the Chinese mainland stock exchanges by 4.3 percent to 3727.84 points down. Oil prices also fell significantly on Monday, despite another massive interest rate cut in the US to support the economy.

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On Sunday, the US Federal Reserve took drastic measures in view of the fear of recession due to the virus crisis. In an emergency action, it surprisingly lowered the base rate by a whole percentage point to almost zero percent and announced a package of measures in coordination with other central banks. But even this did not calm the market participants on Monday.

Actually, the decisions of the central bank Fed were not planned until Wednesday – and analysts had only expected an interest rate cut of 0.50 percentage points.

The decisions also go far beyond interest rates. The Fed wants to support the economy with a 700 billion dollar bond purchase program and temporarily grant banks emergency loans – as it did after the great financial crisis in 2008. An agreement with other central banks to supply the financial system with liquidity with the US dollar, the world’s reserve currency, is also planned.

On Monday afternoon, the finance ministers of the Eurogroup wanted to hold a video conference to discuss a comprehensive crisis package against the economic consequences of the coronavirus pandemic. This was announced at the weekend, head of the Eurogroup Mario Centeno.

The EU Commission proposed an emergency program worth billions on Friday to help companies and citizens in the coronavirus crisis. For example, European debt, deficit and subsidy rules should be interpreted as generously as possible so that the EU states can provide their own emergency aid.inspired by the power of community service essay In addition, billions from the EU budget are to be reallocated to keep companies solvent and to enable investments.

FRANKFURT (dpa-AFX) – The Dax seems to follow on from the previous week’s price slide on Monday – despite the surprising further rate cut by the US Federal Reserve late on Sunday evening. The broker IG estimated the German leading index two hours before the start of Xetra trading around 4 percent lower to 8860 points. This would be the first time since February 2016 that it would be below 9,000 meters.

From January 2021: These health insurances increase the additional contribution New resolution: Costs for courts and lawyers rise Judgment: Tennis instructor with a broken wrist is unable to work Due to sales ban: Manufacturers collect fireworks and firecrackers again Care for 10,000 children: Ikea opens second furniture store in India

In view of investor panic and fears of recession due to the novel corona virus, the US Federal Reserve has taken further drastic measures. In an emergency action, it surprisingly lowered the base rate by a whole percentage point to almost zero percent and announced a package of measures in coordination with other central banks. Further steps could follow due to the economic damage caused by the spread of the virus. The US benchmark index initially reacted positively over the counter, but profits quickly melted to a fraction. The Nikkei in Asia is also weak again.

The crash since the weekend of 22./23. February, when the consequences of the rapid spread of the coronavirus with the closure of parts of northern Italy became clearly noticeable in Europe for the first time, has historical dimensions. In the past week alone, the Dax lost around 20 percent – a higher weekly loss had only occurred in the global financial crisis in autumn 2008. In the past three weeks, the Dax has lost a third.

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From January 2021: These health insurances increase the additional contribution New resolution: Costs for courts and lawyers rise Judgment: Tennis instructor with a broken wrist is unable to work Due to sales ban: Manufacturers collect fireworks and firecrackers again Care for 10,000 children: Ikea opens second furniture store in India

FRANKFURT (dpa-AFX) – The sell-off on the German stock market due to fear of the economic consequences of the coronavirus crisis worsened on Monday. The Dax fell below the 9000 mark. In the early afternoon it lost 9.3 percent to 8369.74 points, its lowest level since September 2013. Even the intervention of several central banks around the globe could not prevent the exchange rate losses. Of the 30 DAX stocks, almost half suffered double-digit losses.

The MDax of the medium-sized stock market stocks lost 9.9 percent to 18,252.39 points, fell below the mark of 20,000 points and to its lowest level since February 2016. The Eurozone leading index EuroStoxx 50 lost almost ten percent.

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In view of investor panic and fears of recession due to the novel corona virus, the US Federal Reserve has taken further drastic measures. In an emergency action, it surprisingly lowered the base rate by a whole percentage point to almost zero percent and announced a package of measures in coordination with other central banks. The central banks of Japan and Korea are also taking further measures to combat the crisis.

The International Monetary Fund (IMF) plans to provide credit lines totaling one trillion US dollars to cushion the effects of the pandemic. However, all these steps have so far not prevented the high losses on the world’s stock exchanges.

According to economist Thomas Gitzel from VP Bank, there is reason to suspect that the Fed’s interest rate cut “was not only implemented to support economic activity, but also to counteract the drying up of the money markets”. Viewed in this way, the move would not be reassuring from a market perspective. “The unusual timing on Sunday evening also suggests that the Fed is nervous.”

With the renewed losses, the Dax’s slump in the past three weeks now adds up to almost 40 percent. “The screeching slowdown in the global economy is too frightening for the US Federal Reserve to calm down,” wrote Deutsche Bank analyst Jim Reid. Even zero interest rates could not compensate for massive corporate losses and loss of income for employees.

The valuation losses on the stock exchanges are the highest since the great financial and debt crisis twelve years ago, noted strategist Nick Nelson of the bank UBS. Investors anticipate far lower future company profits by aggressively selling stocks. Comprehensive fiscal policy programs in the EU and the USA are now needed as an initial spark.

With the shares of Lufthansa and MTU Aero Engines, two stocks were among the biggest Dax losers, whose activities are being slowed down particularly hard by the corona virus. MTU collapsed by 14.5 percent and Lufthansa by 12 percent; they fell to their lowest level since mid-2012. Lufthansa is canceling the dividend because of the virus in order to ensure solvency. Fraport shares even collapsed by almost a fifth in view of the increasingly stagnant global air traffic.

The auto sector came under heavy pressure again. According to analysts, global demand is likely to weaken noticeably due to the virus pandemic. The losses from BMW, Daimler and Volkswagen ranged from 11 to 13.5 percent. Shares in the supplier Continental fell similarly. At the end of the DAX, the papers of another automotive supplier, Infineon, found themselves again with a price slide of 18.5 percent.

Bayer shares were still among the most stable Dax stocks, down 4.5 percent. According to a media report, the pharmaceutical and agrochemical company is heading for a solution in the US legal dispute over alleged cancer risks from glyphosate weed killers.

Against the collapsing market, Drägerwerk papers shot up by 20 percent. The company has received a major order from the German government to supply 10,000 ventilators. Geratherm shares shot up almost 30 percent. The manufacturer of clinical thermometers is boosting production because of the corona virus.

On the bond market, the current yield rose from minus 0.68 percent on Friday to minus 0.60 percent. The Rex bond index fell 0.36 percent to 145.91 points. The Bund future fell 0.17 percent to 173.10 points.

The euro rebounded and was last traded at $ 1.1156. The European Central Bank set the reference rate on Friday afternoon at $ 1.1104./bek/jha/— By Benjamin Krieger, dpa-AFX —

FRANKFURT (dpa-AFX) – A concerted action by the leading central banks against the economic consequences of the coronavirus crisis is apparently making investors in the stock markets even more nervous. After one of the blackest weeks in stock market history, further losses are becoming apparent for the German leading index Dax. Monetary policy easing by the US Federal Reserve and the European Central Bank had already fizzled out recently. The measure could fuel worries of even worse rather than calm them down, market observers said in early March, for example after the Fed cut interest rates.

From January 2021: These health insurances increase the additional contribution New resolution: Costs for courts and lawyers rise Judgment: Tennis instructor with a broken wrist is unable to work Due to sales ban: Manufacturers collect fireworks and firecrackers again Care for 10,000 children: Ikea opens second furniture store in India

The Fed cut the key interest rate again on Sunday. In addition, the world’s leading central banks want to ensure that the financial system is supplied with the US dollar, the world’s reserve currency. On the one hand, the costs of existing mutual dollar lending transactions (swaps) are reduced. On the other hand, additional loan transactions with a longer term are carried out.

All of this is currently fizzling out in the face of the worsening virus crisis: borders are closed, airlines are cutting routes, supply chains are in danger, shelves have been emptied, cars are becoming slow-moving and public life is increasingly coming to a standstill: the coronavirus crisis has stuck the economy and financial markets under control. Many countries want to mitigate the consequences of the pandemic with extensive help for companies. It remains to be seen whether this will help the Dax on its feet in the short term after the corona crash.

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For the analyst Markus Reinwand from Landesbank Helaba, the current development is “a clear indication that the markets are currently exaggerating downwards”. But it is hard to say when this will end – especially since Germany is now closing some borders

Federal Interior Minister Horst Seehofer (CSU) announced comprehensive controls and entry bans at the borders with Switzerland, France, Austria, Denmark and Luxembourg. “For travelers without a valid reason to travel, the rule is that they can no longer enter,” said Seehofer on Sunday evening in Berlin.

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