FRANKFURT (dpa-AFX) – The Fed’s interest rate forecasts put an end to the year-end rally on the German stock market on Thursday. The Dax, which had already run out of steam somewhat in the current week, lost 1.06 percent a few minutes after the Xetra opening, but remained above the round mark at 20,029 points.
The MDax fell by 1.19 percent to 25,541 points. The Eurozone’s leading index, the EuroStoxx 50, lost 1.4 percent.
As expected, the US Federal Reserve had lowered its key interest rate for the third time in a row the previous evening – but predicted fewer rate cuts than before for the coming year due to stubbornly high inflation. This had weighed heavily on share prices on Wall Street and especially on the technology stock exchange Nasdaq.
The US Federal Reserve has ended the Christmas rally, according to the Landesbank LBBW. “Few probably had such a strong withdrawal of interest rate cut projections on…
