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DAX falls below the August lows

FXStreet (Mumbai) - The Dax, Germany’s blue chip index, has declined below the August lows, down 1.9% today and 10.65% from the September high of 9891.00.

The fall has been led by the Technology All Share index, which trades lower by 3.04%. Fro past few days, the hardest hit sectors have been retailers, leisure, Industrial and technology stocks. Sports clothing giant Adidas has lost 4.47% today, while Ariline Luthansa is down 0.86%. Volkswagen is is trading lower by 2.64% as well.

The Dax has hit a low of 8789 today as the concerns of German economic slowdown hurt the investor sentiment.

Dax Technical level

Dax has breached the support level of 8903 ( August low), which opens door for 8594 levels (19th Sep, 2013 high).

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