FRANKFURT (dpa-AFX) - The continued slide on the US stock market and a sell-off on the Japanese stock market put further pressure on the German stock market on Monday. In addition, the boom in artificial intelligence (AI) took another hit. Investor nervousness increased. It was again as high as it was recently during the coronavirus crisis, the market said, referring to the fluctuation range of share prices.

Ultimately, the Dax fell 1.82% to 17,339.00 points and recovered significantly from its daily low of around 17,025 points. However, this is still the lowest level for the German stock market barometer since February. In addition, the much-noticed 200-day line, which indicates the longer-term trend and currently stands at just over 17,400 points, could not be recaptured. In the three trading days since the beginning of August, the DAX has now lost just over six percent. Of its year-to-date gain, 3.5 percent is currently left.

Market analyst Konstantin Oldenburger from the broker CMC Markets emphasized that the 17,000-point mark has at least held and currently sees an "exaggeration of the stock market downwards".

Capital market strategist Jürgen Molnar from Robomarkets noted that investors' nerves were frayed and referred to the Japanese benchmark index Nikkei 225, which fell by 12 percent. The Middle East conflict was escalating. "An Iranian attack on Israel (...) seems only a matter of time." At the same time, the unemployment rate in the US has risen to its highest level in three years. "The Fed has held on to high interest rates for too long and the economy is threatening to slide into recession." However, it is "far from clear" whether this will actually happen, Oldenburger emphasized.

On the Asian stock markets, technology stocks suffered above all from a report that AI powerhouse Nvidia is postponing the launch of new chips due to defects. Nvidia had been the big beneficiary of the AI boom theme and triggered this year's rally on the US technology stock exchange Nasdaq.

The fear of a recession in the United States is also affecting shares below the Dax in Germany. The MDax mid-cap index lost 2.04% to 23,964.39 points on Monday. The SDax, which at times fell by almost 6 percent, dropped by 2.62 percent. Medium-sized and smaller companies are often particularly dependent on the economic cycle./ck/he