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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.
Fed Leaves Interest Rates Unchanged, Warns Of Higher Unemployment, Inflation.
Swiss Franc Rises Against Majors
Swiss Market Ends Nearly 1% Down
Major European Markets Close On Weak Note After Cautious Session
Canadian Stocks Up Firmly In Positive Territory
German Factory Orders Rebound Ahead Of U.S. Tariffs
Bay Street Likely To Open Higher
