Investors on the German stock market have to cope with the next setback on Wednesday. A weak Wall Street and the data on consumer prices from Germany due in the afternoon call for caution.
Investors on the German stock market have to cope with the next setback on Wednesday. A weak Wall Street and the data on consumer prices from Germany due in the afternoon call for caution.
A few minutes after opening on Xetra, the Dax fell by 1.04 percent to 13,094 points. The MDax of medium-sized stocks lost 1.20 percent to 26,795 points. The leading eurozone index, the EuroStoxx 50, was also down 0.9 percent.
On the New York stock market, the bad consumer mood in June had weighed on the previous day. Consumer spending is by far the most important pillar of the entire US economy.
In Germany, new inflation data are due in the afternoon. Inflation is still very high, in Germany and in the entire euro zone. The European Central Bank (ECB) is therefore under pressure to raise interest rates, possibly even with larger steps than initially thought. Curbing inflation while avoiding a recession is currently the central bank’s dilemma.
Source: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
