DAX Slips On Interest-rate Concerns
(RTTNews) - German stocks were moving lower on Monday, as investors braced for another jumbo rate hike by the U.S. Federal Reserve at the end of a two-day policy meeting on Wednesday.
13 central bank meetings are scheduled this week, which are certain to see borrowing costs rise across the globe.
As inflation worries mount, it remains to be seen whether the Fed will be forced to raise rates by 100 bps.
The benchmark DAX dipped 39 points, or 0.3 percent, to 12,702 after falling 1.7 percent on Friday.
Tech shares traded lower, with Infineon Technologies losing about 1 percent, tracking higher Eurozone government bond yields.
Volkswagen gained 1 percent. The automaker is seeking to raise nearly 9.4 billion euros ($9.41 billion) from the initial public offering of its iconic sports-car maker Porsche AG.
NZ Dollar Advances Against Majors
Australian Dollar Rises Against Majors
European Shares Seen Mostly Lower Before US Inflation Data
Sensex, Nifty Struggle For Direction In Early Trade
Australian Market Swings To Modest Gains In Mid-market
Asian Markets Mixed Amid Caution Trades
Sensex, Nifty Seen Tad Higher At Open As IIP Growth Recovers
