FRANKFURT (dpa-AFX) – The DAX stabilized on Wednesday after its sharp decline the previous day. Investors, however, remained cautious ahead of the US Federal Reserve’s interest rate decision later in the evening.
Germany’s leading index gained 0.13 percent to close at 23,359.18 points. At times, it was up more than 0.6 percent, after falling on Tuesday to its lowest level since June. The MDAX, which tracks mid-sized companies and also struggled the day before, ended trading up 0.39 percent at 30,217.38 points.
Financial markets widely expect the US Federal Reserve to cut interest rates for the first time this year. While the size of the rate cut is in focus, investors are also looking ahead. “With his rhetoric, Fed Chair Jerome Powell is likely to set the tone for stock markets in the coming weeks and months,” commented market strategist Jürgen Molnar from broker RoboMarkets.
Market expert Marcel Mußler…
