The DAX already started in the red and could not fight its way out of the loss zone in the further course of the day. Finally, the leading German index ended the last trading day of the week 0.99 percent lower at 15,829.94 points.
The TecDAX started the Friday with little movement, but followed the trend of the DAX and ultimately also listed 0.3 percent lower at 3,152.64 points.
At the end of the week, further losses were seen on the German stock market, as the prospect of further increases in interest rates worldwide weighed on investor sentiment. Fed Chairman Jerome Powell gave signals this week that the US Federal Reserve will continue to tighten the reins after the current interest rate pause. Interest rate hikes in the UK and Norway were higher than expected. In Japan, too, a rethinking of the previously looser monetary policy come after Friday’s inflation data came in higher than expected.
Click here for the complete index overview
The EURO STOXX 50 gave way at the start of trading and continued to make losses later in the day. His final score: 4,271.61 points (-0.76 percent).
Interest rate concerns continued to weigh on prices on the European trading venues on Friday. New impetus came from economic data. So stood in the euro zone and the US, the purchasing managers’ indices from S&P Global are on the agenda. In the euro zone, the index for June showed almost stagnation. Activity in the US economy slowed in June, according to a survey by S&P Global.
Click here for the complete index overview
The Dow Jones index started the session down 0.33 percent at 33,835.66 units and remains in red territory for the remainder of the session.
The tech-heavy one NASDAQ Composite was 1.07 percent lighter at 13,484.10 points at the starting bell and also recorded losses afterwards.
The prospects of the US Federal Reserve continuing to raise interest rates remain bleak. Following the conclusion of the two-day semi-annual hearing before Congress, Fed Chairman Jerome Powell reiterated that further rate hikes are expected this year to bring inflation back to the 2 percent target level. “We don’t want to do more than we have to do,” Powell said, according to Dow Jones. “The overwhelming majority of FOMC members believe that more rate hikes are on the cards, but we want to do them at a pace that allows us to take into account the information that is coming in.” In addition, both the Swiss central bank and the Bank of England, among others, have raised interest rates.
Click here for the complete index overview
At the end of the week, the most important Asian trading centers went downhill, in Shanghai trading continued to rest due to the public holiday.
The leading Japanese index Nikkei closed with a sharp loss of 1.45 percent at 32,781.54 points.
In mainland China, the stock market was also closed on Friday due to a public holiday. The Shanghai Composite therefore remained at its closing level on Wednesday at 3,197.90 units (-1.31 percent). In Hong Kong, on the other hand, trading resumed. The hang seng fell by 1.71 percent to 18,889.97 points by the end of trading.
Asian investor sentiment remained shaky going into the weekend. According to Dow Jones Newswires, market observers pointed to growing economic fears, especially with regard to China, where expectations of a rapid economic recovery after the corona pandemic have not yet been fulfilled.
Economic concerns also prevailed in Japan: “The purchasing managers’ indices published today by Jibun Bank show downside risks for growth,” said IG market analyst Yeap Jun Rong, according to Dow Jones Newswires. Speculation that the Bank of Japan’s ultra-loose monetary policy could end soon weighed on performance after consumer price inflation picked up slightly more-than-expected in May. Overall, however, it was still at a relatively low level.
Click here for the complete index overview