DAX Tumbles On Inflation, Growth Worries

RTTNews | Před 945 dny
DAX Tumbles On Inflation, Growth Worries

(RTTNews) - German stocks fell sharply on Friday and bond yields extended their climb, as worries about inflation and interest-rate rises gripped markets.

U.S. social media company Snap Inc's bleak fourth-quarter outlook also reminded the risk of recession.

The benchmark DAX fell 205 points, or 1.6 percent, to 12,562 after rising 0.2 percent on Thursday.

METRO AG shares fell about 1 percent. After reporting a 11.8 percent increase in sales in the fourth quarter of its financial year, the wholesale giant warned that the next year continues to be challenging with high inflation and growing cost pressure.

Adidas plunged nearly 9 percent as the sporting goods maker cut its full-year outlook, citing weakening demand.

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