Frankfurt The weak opening of the US stock exchanges amplifies the price slump on the German stock market. In late afternoon trading, the Dax was 2.6 percent lower at 15,525 points, more than 400 points below the previous day’s level. All 40 Dax papers are in the red, led by Vonovia with a loss of more than six percent.
Interest rate worries once again triggered the slump. On Wednesday evening, the US Federal Reserve again signaled further rate hikes in 2023 in its minutes. Accordingly, “almost all” members of the Monetary Policy Committee expect further hikes
Unexpectedly strong jobs data on Thursday afternoon amplified concerns. In the United States, according to data from the service provider ADP, almost half a million new jobs were created in the private sector last month, economists had not even counted on half. A strong labor market increases the likelihood of the Fed raising rates.
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