Speculations on a longer lasting tightening of monetary policy caused significant price losses worldwide at the end of the week. Of the dax fell by 2.3 percent to 12,971 points at the end of trading on Friday. In his eagerly awaited speech, US Federal Reserve Chairman Jerome Powell put investors in the mood for a long fight against inflation. Restoring price stability will require monetary tightening for “some time,” Powell said at the Jackson Hole, Wyoming, central bank symposium on Friday. To do this, the tools would have to be used “powerfully”. The statements are seen as a signal that the Federal Reserve (Fed) will adamantly continue its course of raising interest rates and that easing is out of the question for the time being. Several US officials have stressed that it is premature for markets to expect interest rate cuts in the coming year. Even within the European Central Bank (ECB), larger interest rate hikes are now apparently being considered. In terms of individual values, the focus was on the shares of VW’s main shareholder, Porsche. It was the only value at the close of trading with a plus of 0.4 percent still on the winning side in the Dax. The preparations for a partial IPO of the sports car manufacturer Porsche AG are in the hot phase. The news agency Reuters According to reports, the board of directors of the parent company Volkswagen and its main shareholder Porsche SE are to set the course for the multi-billion dollar project as early as next week. Porsche could be worth up to 85 billion euros in an IPO. A skeptical study by Bankhaus Metzler, on the other hand, weighed on Continental. With a discount of 5.6 percent, the automotive supplier’s stocks were among the weakest Dax stocks.
In the M-Dax, investors looked in particular at Lufthansa. After the airline’s failed collective bargaining talks with its pilots, a strike could break out at any time. The Lufthansa share lost 1.7 percent.
The leading index suffered on Wall Street Dow Jones three percent one. Dell shareholders had to cope with bitter losses of 13.5 percent. The computer manufacturer has presented the lowest sales growth in six quarters in the important customer country China.