Dusseldorf The leading German index slipped slightly after stable trading at the start. At noon, the Dax was listed at 15,569 points, a drop of 0.5 percent compared to the previous day’s closing price.
The daily low is 15,535 points, close to the low that the Dax reached after the speech by US Federal Reserve Chairman Jerome Powell. With his announcement that he would speed up the rate hikes, Powell caused the Dax to slip around 200 points. From the proximity of the two lows within three trading days, it can be concluded that short-term buying interest prevails just above 15,500 points.
>> Read here: Powell’s Painful Message for Investors – The specter of recession is hovering
Despite the slight losses, the German stock exchange barometer is surprisingly robust in the face of negative news, especially when it comes to interest rate developments. In fact, two-year interest rates, which are particularly sensitive to changes in monetary policy, have reached multi-year highs.
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