DAX Index is among the worst-performing indices in Europe today. It is down by more than 3%, which is worse than the FTSE 100 2.70% decline and FTSE MIB’s 2.76% decline. The only index near to the DAX is France CAC. The selloff in Europe and Asia is mostly because of the dovish statement issued by the Federal Reserve yesterday.
All DAX components in the red:
All companies in the DAX index are in the red today. The worst-performer is Lufthansa, the company which recently received a large bailout from the government. It is about to be removed from the DAX. Shares dropped by more than 8%. It was followed by Continental, the auto supplier, which recently slashed its dividend. Other big losers in the DAX were Daimler, Infineon, MTU Aero, and Siemens. Automakers Volkswagen and BMW also declined sharply.
The DAX index is also trading lower after the OECD released a sharp report saying that the global economy will slide by more than 9% this year.
Dax 30 SHORT (Sell)
ENTER AT: 12128