The “emergency rescue” of the ailing major Swiss bank Credit Suisse at the beginning of the new trading week was not able to reassure investors on the German stock market. On Monday morning, the Dax fell to another low since January and slipped down 1.12 percent to 14,602.19 points. At the same time, the leading German index seamlessly followed the previous week’s discounts of more than four percent.
The MDax of medium-sized companies also lost significantly in the first few minutes of trading and fell by 1.90 percent to 25,944.45 points. The EuroStoxx 50, the leading index in the euro zone, slipped 1.55 percent to 4002.17 points.
Concerns about Credit Suisse and the collapse of several US regional banks had recently raised fears of a wildfire and a new financial crisis on the financial markets. With billions in support from Switzerland and the local central bank, the takeover of the major Swiss bank by its domestic competitor UBS was decided at the weekend.
At the beginning of the week, high price losses at banks and insurers again weighed on Europe and in Germany. Investors are particularly concerned about their exposure to certain multi-billion dollar Credit Suisse bonds that are likely to default completely.
Against the background of the turbulence, the interest rate decision by the US Federal Reserve this Wednesday is now being awaited with particular suspense.
