A Carnivorous Butcher in Florida has won a $25 million auction, but the son of a meat market owner said the win doesn't change anything.Read MoreIn August, the family of John Stokkeman purchased a 1,000-square-foot building in the Tampa Bay area for $25.7 million.The property was used for a local butcher, and Stokkman's son said the family would use it to make the meat market a full-service restau...
The German market was down 4.7% on Monday to 4,827.96 points, its lowest level since February, and it was the lowest level in three weeks.
It was down by 2.9% from its low of 4,977.70 points on Monday, according to Bloomberg data.
The index fell to its lowest since January 20, 2019, and is the lowest in five years.
“The euro zone remains stuck in a recession, with unemployment at nearly 15%, and the German economy stuck in deflation,” said Peter Dölinger, an economist at Deutsche Bank AG.
“However, the economy is recovering.
That will be the case over the coming months.”
Germany has lost nearly 5% of its value against the dollar in the last month, and inflation has soared to nearly 13%.
The country’s economy shrank by 0.6% in the fourth quarter, which is below the ECB’s 2% target for inflation.
The German stock index is down more than 5% from a record high of 1,086.52 points last month.
It has lost around 3.3% of the value of the 10 biggest German companies in the past year, according a Bloomberg analysis.
The benchmark S&P 500 index fell 0.4% to 2,094.80.
The Nasdaq composite lost 0.2% to 5,906.89.
The Dow Jones industrial average lost 0,965.88 points, or 0.7%.
The S&P 500 lost 1,542.43 points, a 0.3%.
The Nasthier index of companies in technology, which tracks stocks that are listed on exchanges, lost 0.,3%.