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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.
European Shares Mostly Higher As Investors Look Ahead To Fed, BoE Meetings
NZ Dollar Advances Against Most Majors
Australian Dollar Rises Against Majors
Asian Shares Mixed In Thin Holiday Trade
European Shares Poised For Lower Open
Sensex, Nifty Modestly Higher In Early Trade; Top Banks Decline On Weak Q4 Results
Australian Market Extends Early Losses In Mid-market
