{"id":25075,"date":"2022-08-22T08:52:27","date_gmt":"2022-08-22T08:52:27","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2022\/08\/22\/dax-tumbles-on-rate-hike-worries-2\/"},"modified":"2022-08-22T08:52:27","modified_gmt":"2022-08-22T08:52:27","slug":"dax-tumbles-on-rate-hike-worries-2","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2022\/08\/22\/dax-tumbles-on-rate-hike-worries-2\/","title":{"rendered":"DAX Tumbles On Rate Hike Worries"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> German stocks fell sharply on Monday in the wake of hawkish comments from ECB and Federal Reserve officials. <\/p>\n<p>Bundesbank President Joachim Nagel told German newspaper Rheinischen Post that inflation in Germany could hit a 70-year high of 10 percent this fall as Russian natural-gas supplies slow.<\/p>\n<p>A recession appears likely next winter but the European Central Bank should continue increasing rates to tame inflation, he added.<\/p>\n<p>Elsewhere, Richmond Fed President Thomas Barkin said on Friday that the &#8220;urge&#8221; among central bankers was towards faster, front-loaded rate increases.<\/p>\n<p>The benchmark DAX slumped 257 points, or 1.90 percent, to 13,287 after falling 1.1 percent on Friday. <\/p>\n<p>Automakers led losses, with BMW and Volkswagen falling 3-4 percent. <\/p>\n<p>Tech stocks also fell, with Infineon down nearly 2 percent.<\/p>\n<p>Healthcare group Fresenius SE surged 6 percent on news that Chief Executive Officer Stephan Sturm will leave the company next month, and will be succeeded by Michael Sen, currently the CEO of subsidiary Fresenius Kabi. <\/p>\n<p>Shares of its dialysis unit Fresenius Medical Care rose over 1 percent. <\/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 \/>2022-08-22 08:52:27<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>German stocks fell sharply on Monday in the wake of hawkish comments from ECB and Federal Reserve officials. Bundesbank President Joachim Nagel told German newspaper Rheinischen Post that inflation in&#8230;<\/p>\n","protected":false},"author":2,"featured_media":25076,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":{"0":"post-25075","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-euro-markets"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/25075","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=25075"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/25075\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/25076"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=25075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=25075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=25075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}