FRANKFURT / LONDON (IT BOLTWISE) – The DAX is under pressure again as losses in US technology stocks weigh on the leading German index. Analysts warn of a possible correction as the Nikkei falls on interest rate concerns. The ongoing US shutdown is reaching a new record and is causing additional uncertainty on the markets.
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The German leading index DAX is under pressure again after falling below the 24,000 point mark the day before. The losses in US technology stocks that weighed on the American stock exchanges the evening before are also affecting the DAX. Analysts warn of a possible correction as the high valuations of technology stocks are increasingly questioned.
On October 9th, the DAX reached a new record high of 24,771.34 points, but recent developments point to a possible correction. Frank Sohlleder, analyst at Activtrades, sees technical chart signs of an impending correction in the German leading index. Investors are concerned about Big Tech companies’ big spending on artificial intelligence in the coming year.
A similar picture emerges in Asia, with the Japanese leading index Nikkei 225 falling significantly due to interest rate concerns. Experts at Landesbank Helaba point out that the Japanese central bank discussed arguments for an interest rate increase at its last meeting. These uncertainties contribute to the general nervousness in the markets.
In addition, the ongoing US shutdown is weighing on the markets. The partial shutdown of government operations in the USA has reached a new record and has now lasted 36 days. This has serious consequences for the population and the economy and creates additional uncertainty on global markets.
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