gEconomic and financial concerns have completely spoiled investors’ appetite for the DAX stock index. Germany’s leading index lost its peak by 0.6 per cent to 15,471 points on Friday – but by the end of trading the DAX had almost made up its loss from the previous day at 15,557 points. The Euro Stoxx 50 index fell 0.1% at the end of the week. The continuing high level of interest rates increases the risk of a sharp downturn for the US economy, which is why investors are now questioning stock valuations.
The US central bank, the Federal Reserve, decided to temporarily suspend interest rates at its latest meeting. However, Fed Chairman Jerome Powell noted that there is still room for improvement. In addition, any interest rate cuts in 2024 are likely to be much smaller than previously thought. Consequently, the US currency continued to rise. The dollar index hit a new six-month high of 105.782 points on Friday. The euro had to surrender. The single currency fell 0.4 percent to $1.0613. On the Wall Street Stock Exchange in New York, the Dow Jones Index lost 0.3 percent to 33,963 points by the end of trading.
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