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The DAX started the day at a discount of 1.47 percent at 13,060.18 points, but was able to defend the 13,000 mark that was in danger and also significantly contain its losses during the course of the day. At the close of trading, there was then a small minus of 0.36 percent at 13,208.12 meters on the price board.
The meeting of the US Federal Reserve on the previous evening weighed on the mood on the stock markets.
In view of the Corona crisis, the Fed apparently wants to leave the key rate at the zero line for years. The majority of the members of the Monetary Policy Committee expect that the current low interest rate level will not change significantly by 2023. Federal Reserve Chairman Jerome Powell also reiterated his view that the state must expand its financial support in the corona and economic crisis.
Analyst Jochen Stanzl assessed the latter as a burden for the stock markets: “Many investors were amazed when the Fed handed over responsibility for fiscal policy yesterday and called for much bigger economic stimulus programs than those already passed”. The Fed is playing with it in the Monetary policy the ball back to the US government. Before the presidential elections, however, they are engaged in a trench war with the Democrats over the structure and size of the next economic stimulus package.
Finanzen.net editorial team / dpa-AFX
Image Sources: DANIEL ROLAND / AFP / Getty Images