Dusseldorf The German stock market was under the spell of the ECB meeting on Thursday. With the decision to raise interest rates by 75 basis points, the central bankers have provided clarity in view of the inflation rate in the euro area of 9.1 percent.
The Dax initially reacted to the decision unchanged. But during the press conference with ECB boss Christine Lagarde, the Dax slipped significantly and was now at 12,688 points, a drop of 1.7 percent or more than 220 points. Investors were unsettled by Lagarde’s gloomy statements about Europe’s economic prospects. But then the Dax recovered again and was around 0.1 percent lower at 12,904 points at the end of trading.
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