Dax continues to give way – professional investors should protect the leading index from major price losses

Dusseldorf The leading German index extends its short-term consolidation after the four-week rally. The Dax was trading at 14,308 points in the morning, a drop of around one percent. As recently as Monday of this week, the stock market barometer had reached a ten-week high of 14,709 points.

After that, however, restraint prevailed on the German stock market, also in view of today’s ECB interest rate meeting. Until the press conference, which begins at 2:30 p.m., little is likely to change in this reticence.

What will be decisive for the market is how ECB boss Christine Lagarde comments on possible large interest rate hikes of 50 basis points. At the moment, the stock exchanges consider at least a double rate hike this year to be possible.

Thomas Altmann from the investment house QC Partners expects: “A rejection of double interest rate increases would provide relief on the market. On the other hand, pushing large interest rate hikes could cause new unrest on the bond market.”