DAX Slips On Interest-rate Concerns

RTTNews | 954 days ago
Stocktwits
DAX Slips On Interest-rate Concerns

(RTTNews) - German stocks were moving lower on Monday, as investors braced for another jumbo rate hike by the U.S. Federal Reserve at the end of a two-day policy meeting on Wednesday.

13 central bank meetings are scheduled this week, which are certain to see borrowing costs rise across the globe.

As inflation worries mount, it remains to be seen whether the Fed will be forced to raise rates by 100 bps.

The benchmark DAX dipped 39 points, or 0.3 percent, to 12,702 after falling 1.7 percent on Friday.

Tech shares traded lower, with Infineon Technologies losing about 1 percent, tracking higher Eurozone government bond yields.

Volkswagen gained 1 percent. The automaker is seeking to raise nearly 9.4 billion euros ($9.41 billion) from the initial public offering of its iconic sports-car maker Porsche AG.

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