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.
U.S. Dollar Drops After Powell's Speech
TSX Hits New Record High As Stocks Rally On Fed Rate Cut Hopes
Powell Says Outlook, Shifting Balance Of Risks 'May Warrant' Lower Rates
Bay Street Likely To Open On Mixed Note; Powell's Speech Eyed
Sensex, Nifty Snap Six-day Winning Streak On Tariff Concerns
FTSE 100 Down Slightly; Standard Chartered Shares Up Sharply
U.S. Dollar Rises Ahead Of Fed's Powell Speech
