FRANKFURT (dpa-AFX) – The tense situation in the Middle East and the upcoming US interest rate decision led to caution and restraint on the German stock market on Wednesday. After a weak close on Tuesday, the market fell slightly further on Wednesday.
With regard to the war between Israel and Iran, statements by US President Donald Trump in the afternoon were not enough to offset the losses. Trump said that Iran was considering the possibility of negotiations. Oil prices subsequently fell.
The DAX ultimately lost 0.50 percent to 23,317.81 points. According to analyst Jochen Stanzl from broker CMC Markets, the German benchmark index now needs to hold the 23,300-point mark to prevent the ongoing consolidation from turning into a more severe correction. The MDax, the index of medium-sized companies, fell by 0.12 percent to 29,684.32 points in mid-week trading.
In the Middle East conflict, the US’s response is…
