Due to the war with Iran, Germany is falling into the abyss: DAX lost about 150 billion euros

The US and Israeli attack on Iran led to a sharp drop in the German stock market. Since the beginning of hostilities, the DAX index has declined by about 8%, which corresponds to a loss of about 150 billion euros in the market value of Germany's largest companies, the Financial Times writes, citing exchange data.

In just one day, the index lost more than 500 points amid rising oil prices. The main reason for the fall was a jump in the cost of energy resources. According to analysts of Rapidan Energy Group, we are talking about the "largest disruption of oil supplies in history": About 20% of global supplies were at risk.

The price of Brent crude oil exceeded $ 100 per barrel for the first time since 2022, and American WTI temporarily rose to almost $ 120. Investors fear that rising prices will again accelerate inflation and postpone interest rate cuts.

The fall affected other markets as well. In Japan, the Nikkei index fell by about 7%, and strong losses were recorded in South Korea. Concerns are primarily related to the possible blockade of the Strait of Hormuz, through which about a fifth of the world's oil trade passes.

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