The disappointment on Wall Street about the statements made by the US Federal Reserve also caused prices on the German stock market to fall on Thursday. On a day with many new quarterly reports from German companies, the Dax losses were more moderate than in New York: the leading index lost 0.48 percent to 13,192.91 points in the first few minutes. The MDax fell more significantly by 1.29 percent to 23,445.15 points, while the leading euro zone index EuroStoxx 50 lost a good 0.8 percent.
The fact that the US Federal Reserve could raise interest rates less sharply in December than recently did not console investors for the fact that they will probably remain high for quite some time. Fed Chairman Jerome Powell indicated that it was “very premature” to think about a pause in interest rate hikes that investors were hoping for in the future. There is still “some way” to go when it comes to interest rates. It takes time and patience to keep inflation down. As expected, the US Federal Reserve raised its key interest rate by 0.75 percentage points yesterday.
