DAX Slips On Recession Worries
(RTTNews) - German stocks slipped on their last trading day of the year, with concerns about more Fed tightening, China's COVID-inspired uncertainty and the escalating Ukraine conflict weighing on investor sentiment.
Market experts predict that the world economy will face recession next year as a result of the rises in interest rates in response to higher inflation.
Elsewhere, moves by several countries to mandate COVID-19 tests for passengers arriving from China reflect global concern that new variants could emerge in its ongoing explosive outbreak.
The benchmark DAX was down 76 points, or half a percent, at 13,996 after gaining 1.1 percent in the previous session.
Among the prominent decliners, Daimler, Adidas, Deutsche Telekom, E.ON, Siemens and Vonovia fell 1-2 percent.
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