DAX Slips Into Red On Fed's Hawkish Tone
(RTTNews) - German stocks declined on Thursday, a day after the latest projections showed Fed officials expect only one interest rate cut this year compared to the three forecast in March.
Meanwhile, Germany's wholesale prices continued to decline in May, albeit at a slower pace, Destatis reported.
Wholesale prices registered an annual decline of 0.7 percent in May, which was slower than the 1.8 percent decrease in April.
Wholesale prices have been falling since May 2023 and the latest decline was the slowest in the current sequence of decrease.
On a monthly basis, wholesale price inflation softened to 0.1 percent from 0.4 percent in April. This was the third consecutive increase.
The benchmark DAX was down 133 points, or 0.7 percent, at 18,498 after climbing 1.4 percent in the previous session.
Bond yields across the euro zone rose, with the yield on the German 10-year bund last trading at 2.551 percent.
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