The third sharp rise in key interest rates in the United States in a row and gloomy statements from the US Federal Reserve Bank on further development weighed heavily on the German stock market at the start of trading.
The third sharp rise in key interest rates in the United States in a row and gloomy statements from the US Federal Reserve Bank on further development weighed heavily on the German stock market at the start of trading.
The leading index Dax lost 1.72 percent to 12,548 points in early trading. The Eurozone selection index EuroStoxx followed roughly in step downwards. The MDax fell by 2.11 percent to 23,405 points, its lowest level since May 2020. The SDax fell 2.34 percent to 11,016 points.
After the Fed’s decision to raise interest rates by 0.75 percentage points for the third time in a row, the US stock market is sending out clearly negative signals. On Wall Street, the most important indices fell to their lowest levels since July on Wednesday evening. Investors feared more and more a “hard landing,” said Credit Suisse. Data on the forecast interest rates (“Fed dot plots”) in particular attracted attention, which, with an interest rate high of 4.6 percent in 2023, was above expectations.
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.
