Poor labor market data from the U.S. and the euro zone have sent the stock market into a tailspin.Karen Millen Dresses
The Dax fell temporarily to the lowest level in five months, the euro to a two-year low. Investors warn of a global economic slowdown.
Hamburg / Frankfurt am Main - One connects Americans and Europeans in those days: the situation of their labor markets is far from rosy. New figures for the bad situation on both sides of the Atlantic on Friday resulted in substantial price listed on the slides.
■ The Dax fell temporarily to a five-month low, closing with a loss of 3.4 percent at 6050.29 points.
■ The Euro Stoxx 50 fell by almost 2.4 percent to 2068.66 points,Karen Millen its lowest level since late September.
■ The French CAC 40 lost about two percent,
■ The UK's FTSE over one percent.
■ The Dow Jones took his leave with a Karen Millen Dress discount of 2.22 percent to 12118.57 points from the trade
■ The S & P 500 index closed lower by 2.46 percent at 1278.04 points
■ The Nasdaq Composite Index was down 2.82 percent at 2747.48 points
■ The selection index Nasdaq 100 lost 2.6 percent to 2458.83 points and slid
■ At the same time decreased the € second, on a new two-year low of $ 1.2286, recovering later in the day, however, again.
Investors reacted to disappointing especially U.S. labor market figures for May. The construction job numbers fell after the U.S. government on Friday from as weak as no more than a year. In addition, the buildup in the two previous months, which anyway was not particularly strong, once again revised downward.
The unemployment rate rose for the first time in nearly a year. The probability that the U.S. Federal Reserve responded with a repeated but loosen its monetary policy is likely to increase given such low numbers.
In Europe, the economic outlook is much better.Karen Millen Dresses The purchasing managers' index of data provider Markit fell to 45.1 points in May and reaching its lowest level in three years. Especially bad is the situation in Spain, which has replaced Greece as the rear. Even in Germany, France and Italy, the business was much worse. "In all four focus countries of the Euro-zone, it is now at an alarming pace downhill," said Markit chief economist Chris Williamson.
The European labor market data is also expressed on the mood. The unemployment rate in the euro zone was in March and April, eleven percent - the highest level since records began in 1995th He expected in the coming months to increase to more than 11.5 percent, said ING economist Martin van Vliet. In order to give new impetus to the economy, would have mitigated the austerity measures and increased investment. "To combat the escalating debt crisis, drastic steps must be taken," added van Vliet.
Since many investors their money umschichteten considered safe papers in Germany and the United States, futures climbed for government bonds and U.S. Treasury bonds to a record high. The gold price rose by up to 1.6 percent, to $ 1,588.19 per troy ounce (31.1 grams).
The disappointing data tr?fen the markets at a critical time when many investors are uncertain because of the debt crisis, said Rick Meckler, president of Liberty View Capital Management. All signs indicate that a global economic slowdown. "The time is obviously ripe for new government policies in the U.S., Europe and China."
In Germany remained the only DAX-value in the black MAN. The shares of the commercial vehicle manufacturer increased by 2.3 percent to 79.13 euros. According to traders fueled reports of a planned conversion of the VW board rumors of an increase in shares of VW to MAN.