FRANKFURT (dpa-AFX) - After a conciliatory end to last week, the DAX came under some pressure on Monday. In the opening minutes of trading, the German benchmark index fell by 0.70 percent to 25,083 points. This puts the record high of 25,507 points, reached in mid-January, a little further out of reach again. However, the much-watched round mark of 25,000 points did hold firm.
The MDAX, which includes Germany's mid-cap stocks, also slipped slightly on Monday morning, down 0.57 percent to 31,643 points. The Eurozone's leading index, the EuroStoxx 50, fell by about 0.5 percent following its recent record run.
The positive market reaction seen on Friday afternoon to the US Supreme Court's decision against many of the US government's global tariffs has thus quickly faded. EU leaders reacted more cautiously to the court ruling than they did a month ago to Donald Trump's threats regarding Greenland, noted expert Greg Fuzesi from US bank JPMorgan. For now, nothing will actually change regarding the tariffs imposed by the American president on the EU. Fuzesi therefore does not expect any countermeasures from the EU.
Ifo President Clemens Fuest considers the court ruling politically good news, but warned in an interview with the "Handelsblatt" of growing risks for the economy./gl/stk
