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DAX at one-year low

October 10, 2014

Germany's stock market has fallen to a one-year low, just days after dropping below the psychologically relevant 9,000-point mark. Fears of recession in Europe's largest economy have driven down share prices.

https://p.dw.com/p/1DT53
Traders at the Frankfurt Stock Exchange
Image: picture-alliance/dpa

Germany's stock market fell to a one-year low on Friday, dragged down by a spate of pessimistic economic data earlier in the week.

The DAX, Germany's benchmark index, fell 2.2 percent to 8,805.84 points by midday, its lowest level since October 2013. Just months ago, the DAX hit a record high of 10,050.98 points.

Gloomy outlook

Unease over the health of the German economy has dampened investor confidence. This week several economic indicators painted a despondent picture of Europe's largest economy, including statistics that revealed German exports had shrunk by at their fastest rate in five years.

The pan-European FTSEurofirst 300 index was also down 1.7 percent at 1,291.81 points, and the eurozone's blue-chip Euro STOXX 50 regained some ground, climbing 1.5 percent to 2,995.98 points.

The DAX's fall kept it below the psychologically important 9,000-point mark, which it slid past on Wednesday for the third time in two months.

cjc/hg (Reuters, dpa)