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DAX Slips On Global Growth Concerns; Uniper Shares Tumble 5%
(RTTNews) - German stocks fell on Wednesday amid worries that persistently high inflation and aggressive monetary policy tightening by major central banks will dent global economic growth.
Data released overnight shoed that U.S. monthly consumer price inflation increased at an annual pace of 8.3 percent in August, more than economists' median estimate of 8.1 percent.
The report dashed hopes for a peak in inflation and brought talks of a 100-bps lit-off back on the table.
The benchmark DAX was down 45 points, or 0.3 percent, at 13,144 after losing 1.6 percent the previous day.
Uniper lost nearly 5 percent. The German government may increase its stake in the company above 50 percent and is open to taking the historic step of fully nationalizing the country's biggest gas importer if necessary to prevent a collapse of the energy system, Bloomberg News reported.
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