Dusseldorf The sharp rise in interest rates in the USA and the prospect of further interest rate increases are dampening the mood on the German stock market. However, the leading index Dax clearly limited its losses in the morning: After a minus of 1.9 percent at the start, it was last listed only 0.5 percent weaker at 12,702 points.
Technology firms in particular are under pressure in the German market as higher interest rates invalidate the future earnings on which the valuations of high-growth firms are based. The online fashion retailer Zalando, the recipe box mailer Hellofresh and the food supplier Delivery Hero lose up to three percent.
The US Federal Reserve raised its key interest rate by 0.75 percentage points for the third time in a row on Wednesday evening. Such a pace is unique in their history. In addition, Fed Chairman Jerome Powell made it clear that he only considers a less tight monetary policy appropriate if US inflation is at the target value of two percent. It is currently 8.3 percent.
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