Oil price collapse also pushes the Dax down

Dax curve

View of the Dax curve in the Frankfurt trading hall.


(Photo: dpa)

Dusseldorf The German stock market cannot escape yesterday’s drop in the price of oil. The DAX is down 2.3 percent in the morning trade at 10,435 points.

The topic on the markets is the oil price collapse on Monday evening, which occurred in Germany after the market closed. In the United States, the price of oil plummeted for the first time in its history due to the coronavirus pandemic. Sellers had to pay money for someone to take their oil: The price of the futures contract for the US variety WTI for May plummeted Monday by almost $ 56 to minus $ 37.63 a barrel (159 liters).

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