Down And Out In Frankfurt
Oct. 9 was a bad day for tech shares around the world. But it was particularly grim on Frankfurt's Neuer Markt. The high-tech market's benchmark, the Nemax All-Share index, closed down almost 5% that day, as investors dumped the Internet, biotech, and software stocks that make up the lion's share of the young exchange's 321 listed companies. At one point, the All-Share was down nearly 7%, as retail investors, who account for just over half the volume, panicked. "Everyone wanted out," recalls an official at ConSors Discount Broker, Germany's largest online broker. "Sell orders were flooding through our computers." The previous trading session, Oct. 6, had also been a rout.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Gulf of Mexico Oil Spill May Be Largest Since 2010 BP Disaster
- Billionaire Tom Barrack Throws Harvey Weinstein a Lifeline
- Everything Is Crazy and the Markets Aren’t Freaking Out
- Facebook Is Looking for Employees With National Security Clearances
- Kushners’ Control of Family’s NYC Crown Jewel Is Now in Jeopardy