The Dax price on the Frankfurt Stock Exchange in times of Corona: Why does the leading German index hold steady at 10,000 points?
Image: Wolfgang Eilmes
Although the climax of the corona pandemic is still imminent, the Dax remains well above the 10,000 point mark. Is the stock market distant from reality – or what rhyme can investors make of it?
I.In retrospect, it seems plausible that the prices on the stock markets suddenly started to slide in early March. After all, the Dax had only reached a new all-time high in February with around 13,500 points. Only then did the fear of corona spread among investors in these airy exchange rates. First, stock prices around the world weakened every day, before March 9, 2020, which was to be included in the history books as “Black Monday”.
In Asia, Europe, America, stock prices collapsed everywhere and destroyed billions of dollars in all currencies. The Dax alone dropped almost 10 percent that day. In the days that followed, it continued to slide, eventually closing near the 8400 mark. One asked oneself: How deep can the Dax actually sink?