Of the DAX opened from a discount and dropped even deeper into red territory as it progressed. At times it slipped below the 13,000 point mark. It ended trading down 1.22 percent at 13,028.00 points. Of the TecDAX was weaker at the start and – after a temporary excursion into positive territory – ultimately also moved into the loss zone.
The shock of the US consumer prices published the day before continued to have an effect on Wednesday. “It is above all the further rising core rate of inflation, from which the volatile energy prices are calculated, that worries investors because it shows that prices are rising across the entire economy,” said capital market strategist Jürgen Molnar from the trading house RoboMarkets, according to dpa -AFX.
On Wednesday, US producer prices were then in focus. They are considered a leading indicator for inflation overall and also allow conclusions to be drawn about the pace of interest rate hikes by the Fed. As expected, they fell by 0.1 percent in August.
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Of the EURO STOXX 50 lost only marginally at the opening. In the further course, however, he was clearly in the red.
Very weak specifications also slowed down prices in Europe on Wednesday. On the economic side, the US producer prices and the figures for industrial production in the euro zone were on the agenda. The latter fell even more than had been expected. US producer prices fell back slightly, as economists expected.
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Of the Dow Jones was presented at the start with a small increase of 0.12 percent at 31,141.02 points and is still trading somewhat more firmly. Of the NASDAQ Composite opened trading 0.4 percent stronger at 11,680.41 points and also remains in the profit zone.
The US producer prices were already published before the market on Wednesday. These fell slightly by 0.1 percent, which had previously been expected. However, the core rate rose slightly more than economists had previously expected. This reaffirms investors’ belief that the Fed should rigorously pursue its rate hike course. So far one was valid rate hike by 75 basis points as a foregone conclusion, now even 100 basis points are being discussed.
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In Tokyo it closed Nikkei with a hefty 2.78 percent loss at 27,818.62 points.
In the Chinese gave the Shanghai Composite ultimately by 0.80 percent to 3,237.54 units. Of the hang seng Hong Kong ended the session down 2.48 percent at 18,847.10.
Tuesday’s sell-off on Wall Street also dragged Asian indexes lower midweek. The US consumer prices, which were higher than expected, triggered the panic among investors on the US stock exchanges. It is now becoming more likely that the Fed will continue its aggressive interest rate policy or even tighten it up.
The economic outlook for China was also a cause for concern. China is not expected to act as a growth engine in the current crisis. The US is also said to be considering sanctions against China, according to reports.
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