The fear of interest rates fueled by US Federal Reserve Chairman Jerome Powell continued to weigh on the German stock market at the beginning of the week. In the wake of the internationally weak stock exchanges, the Dax slipped by one percent in early Monday trading. With 12,836.04 points, he was further away from the 13,000 mark.
The fear of interest rates fueled by US Federal Reserve Chairman Jerome Powell continued to weigh on the German stock market at the beginning of the week. In the wake of the internationally weak stock exchanges, the Dax slipped by one percent in early Monday trading. With 12,836.04 points, he was further away from the 13,000 mark.
The losses also extended to the second German stock exchange league and all of Europe. The MDax fell 0.9 percent to 25,283.29 points, while the eurozone index EuroStoxx 50 fell 1.3 percent.
Powell had already put the markets under considerable pressure with his statements at the central bank conference in Jackson Hole on Friday. According to Bankhaus Metzler, he has firmly reaffirmed his intention to tighten monetary policy enough to bring inflation down to the target level of two percent. He admitted that this is likely to mean “some pain for households and businesses”.
Previously, some market participants had harbored hopes that the Fed might revise its hawkish stance as the economy slows. “However, Powell clearly rejected this,” wrote Metzler analyst Eugen Keller.
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.
