The start to October was unsuccessful on the German stock market. After a positive start thanks to the agreement in the US budget dispute, the tailwind for the Dax was lost over the course of the day on Monday. The agreement is only provisional, so the issue is ultimately not off the table. At the close of trading, the DAX lost 0.91 percent to 15,247.21 points. The MDax of medium-sized companies fell by 1.16 percent to 25,773.43 points. High interest rates continue to weigh on the situation.

Sentiment data from US industry was better than expected. The economic risks seemed to be decreasing, explained economist Ralf Runde from the Landesbank Hessen-Thüringen (Helaba). With a view to the Fed’s monetary policy, the expert therefore expects interest rate expectations to rise again, meaning that market participants expect interest rates to remain high or rise again.

High interest rates for supposedly safe investments put pressure on the stock market, which poses greater risks for investors. The attractiveness of bonds is increasingly putting pressure on the valuation level of stocks, said market expert Andreas Lipkow.