When the Neuer Markt Closed

On 10 March 1997 Frankfurt opened the Neuer Markt, a stock market segment for young growth companies. Its index peaked on 10 March 2000. In the following 31 months it lost more than 96 percent of its value, over 200 billion euros. Some companies had published misleading figures. The segment was closed on 5 June 2003. Ten years after its start, the magazine Computerwoche wrote that many shareholders remembered it mit Grausen, with horror. The crash had shaken many investors’ trust in shares for good, and many still kept their hands off them. According to the German Shares Institute, the number of shareholders in Germany had fallen by 2.5 million since 2000.

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