The crisis in real estate company China Evergrande and the approach of the Fed’s deliberations made European investors nervous at the start of the week. On the first day after expanding to 40 values, the Dax down 2.7% to 15,025 points and was not as low as it has been since early May. In particular, the Evergrande imbalance drove investors to flight. “The Beijing government does not seem ready to come to the aid of the company,” said analyst Christian Henke of the brokerage firm IG. “The concern now is that more companies in this sector will be torn to the depths and a new real estate crisis could result.” Evergrande has racked up a mountain of $ 305 billion in debt. In Hong Kong, the group’s stocks fell a good ten percent. At the Fed’s interest rate meeting on Wednesday, investors fear signals that could point to a tightening of US monetary policy.
There are now ten new stocks at Dax, including a new heavyweight with the Franco-German aircraft manufacturer Airbus. The M-Dax of mid-sized stocks was simultaneously reduced to 50 stocks, and the S-Dax smaller stock index also has many new members.
Sectors particularly sensitive to the economy, such as automakers and banks, were under pressure. Deutsche Bank shares lost 6.2% at the end of the Dax, for Commerzbank the M-Dax fell more than seven percent. Among auto stocks, Continental stock posted the largest losses at 5.5%. The prospect of an easing of travel restrictions by the United States for vaccinated passengers from the EU and the UK from November has fueled airline stocks. Holdings of parent company British Airways ICAG rose 10.6%, Lufthansa 5.8% and Air France-KLM 5.5%. In the wake of the further fall in iron ore prices, steel values were extremely low, Thyssenkrupp, for example, fell 5.5%. Concerns about the Chinese crisis group Evergrande and the prospect of a reduction in economic aid from the US Federal Reserve weighed on US stock markets. Of Dow jones rated 1.6 percent lower.