Frankfurt (Reuters) – Interest rate fears that have spilled over from the USA are causing the mood on the German stock market to remain gloomy.
The Dax fell 0.4 percent to 13,135 points on Wednesday after Wall Street fell significantly according to inflation data. “The recent and significant rate hikes by the US Federal Reserve do not seem to have had the desired effect,” said IG market analyst Christian Henke. “And that’s why market participants are now afraid of an even bigger interest rate trowel.” In the course of the day, US producer prices should provide further information about the course of the Federal Reserve.
The forklift manufacturer Kion alienated investors with its forecasts. Shares fell more than 19 percent. According to Kion, disruptions in the supply chains weighed on earnings in the third quarter. “A profit warning was expected, but not on this scale,” said one trader. Margins are likely to remain under pressure as the company is unable to pass on the higher costs of long-term projects to customers.
About You shares also plummeted, falling more than nine percent. The online fashion retailer felt the reluctance to buy as a result of inflation and has therefore scaled back its annual targets.
(Report by Anika Ross, edited by Myria Mildenberger. If you have any questions, please contact our editorial team at [email protected] (for politics and the economy) or [email protected] (for companies and markets).)