Concerns about the economy weighed heavily on the German stock market on Thursday. The leading index Dax fell by 0.95 percent to 13,130.19 points. The MDax for medium-sized stocks fell by 2.12 percent to 23,47.65 points. The realization that there are still no signs of a break in interest rate hikes in the USA weighed on the mood here, as it did on Wall Street.
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 Chair Jerome Powell probably poured water into the wine on Wednesday evening by pointing out that it was “very premature” to think about a pause in interest rate hikes that investors were hoping for in the future. It takes time and patience to keep inflation down.
The Fed raised its key interest rate by 0.75 percentage points for the fourth time in a row.
