The prospect of high interest rates for a long period of time dampened investors’ mood on Thursday. The DAX closed trading 1.33 percent lower at 15,571.86 points. At times, the leading German index fell to its lowest level since mid-August and approached the lower end of its most recent trading range between around 15,500 and 16,000 points.

The US Federal Reserve and other important central banks are likely to have reached the interest rate peak soon, but the door for further increases remained open. So interest rate cuts are not in sight.

The MDax lost 2.24 percent – to a level of 26,575.43 points.