DAX Edges Lower Ahead Of Fed Move
(RTTNews) - German stocks edged lower on Wednesday as investors monitored increased geopolitical tensions with Russia and braced for another hefty interest rate hike by the U.S. Federal Reserve.
Russian President Vladimir Putin announced the partial mobilization of his country's military, bringing geopolitical tensions to the forefront.
Analysts broadly expect a 75-bps rate hike by the Federal Reserve later in the day, but some think the U.S. central bank may go beyond this to 100 basis points.
The benchmark DAX slipped 18 points, or 0.1 percent, to 12,653 after losing 1 percent the previous day.
Energy major Uniper SE plummeted 21 percent. Germany confirmed the nationalization of the company by acquiring its shares held by Fortum Oyj, a Finnish energy company, for 1.70 euros per share.
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