DAX Dips On BoJ Policy Shift

RTTNews | 882 дней спустя
DAX Dips On BoJ Policy Shift

(RTTNews) - German stocks fell sharply on Tuesday after the Bank of Japan expanded its 10-year Japanese government bond yield target band - raising fears of an eventual tightening in policy.

Hawkish comments on interest rates from former Federal Reserve official William Dudley also fueled worries about a worldwide recession.

The benchmark DAX dropped 143 points, or 1.0 percent, to 13,799 after gaining 0.4 percent in the previous session. Klöckner fell about 1 percent. The steel and metal company has agreed to acquire National Material of Mexico for US$340 million on a cash and debt free basis.

Pfeiffer Vacuum, a manufacturer of vacuum pumps, rose over 1 percent after raising its FY sales outlook.

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