FRANKFURT (dpa-AFX) – Israeli airstrikes on nuclear facilities and other targets in Iran caused sharp losses on the DAX on Friday. At the close of trading, the German benchmark index was down 1.07 percent at 23,516.23 points. This marked its sixth consecutive day of losses and a weekly decline of 3.2 percent. Just last week, the DAX had reached a record high of 24,479 points.
Experts at ING Economics warn that a further escalation of the new Middle East war could push oil prices above US$80. The US Federal Reserve is expected to keep interest rates unchanged anyway. These events are likely to confirm the Fed in its stance. The monetary authorities will decide on their future monetary policy on Wednesday evening.
“The Fed will once again not give in to Donald Trump’s push for the first key interest rate cut this year,” writes Robert Greil, chief strategist at Merck Finck. This is because, although US inflation was…
