{"id":16500,"date":"2021-11-23T09:19:55","date_gmt":"2021-11-23T09:19:55","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/11\/23\/dax-tumbles-on-rate-hike-worries\/"},"modified":"2021-11-23T09:19:55","modified_gmt":"2021-11-23T09:19:55","slug":"dax-tumbles-on-rate-hike-worries","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/11\/23\/dax-tumbles-on-rate-hike-worries\/","title":{"rendered":"DAX Tumbles On Rate-hike Worries"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> German stocks fell sharply on Tuesday, with a surge in <span class=\"landLinks\">coronavirus<\/span> cases across Europe and rate-hike worries weighing on sentiment. <\/p>\n<p>Fed Chair Jerome Powell&#8217;s nomination provided a little bit more legitimacy to market pricing in terms of policy tightening next year.<\/p>\n<p>Closer home, investors ramped up their bets on an ECB rate hike next year after ECB policymaker Francois Villeroy de Galhau, said on Monday that the central bank is &#8220;serious&#8221; about ending its emergency bond-buying program in March and may not need to expand regular asset purchases to cover the shortfall.<\/p>\n<p>Separately, board member Isabel Schnabel said today that the risks to inflation are skewed to the upside and that plans to end pandemic emergency bond buys remain valid.<\/p>\n<p>In economic releases, IHS Markit&#8217;s flash Germany composite purchasing managers&#8217; index rose to a two-month high of 52.8 from 52.0 in October.<\/p>\n<p>The benchmark DAX fell 212 points, or 1.3 percent, to 15,903 after declining 0.3 percent in the previous session. <\/p>\n<p>Aareal Bank jumped almost 4 percent as U.S.-based companies Advent International and Centerbridge Partners floated plans to launch a takeover offer for the German commercial real estate lender. <\/p>\n<p>Utility E.ON tumbled 3.6 percent after it announced new financial earnings and growth targets for its core businesses until 2026.<\/p>\n<p>Steelmaker ThyssenKrupp plunged 6 percent on news that Swedish activist fund Cevian is placing a 6.9 percent stake in the firm. <\/p>\n<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>DAX Tumbles On Rate-hike Worries<\/a><br \/>\n<br \/>2021-11-23 09:19:55<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>German stocks fell sharply on Tuesday, with a surge in coronavirus cases across Europe and rate-hike worries weighing on sentiment. Fed Chair Jerome Powell&#8217;s nomination provided a little bit more&#8230;<\/p>\n","protected":false},"author":2,"featured_media":16501,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1531412501799-1b4c354ca957?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=2734&q=80","fifu_image_alt":"","footnotes":""},"categories":[29],"tags":[],"class_list":["post-16500","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/16500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=16500"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/16500\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/16501"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=16500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=16500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=16500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}