German stocks fell sharply on Monday amid lingering concerns over slowing global growth, high inflation and rising interest rates.
Bond yields edged higher, with Germany’s 10-year bond yield hitting a fresh 2014 high on increased expectations about future rate hikes.
Hawkish policymaker Robert Holzmann said on Saturday that the ECB should hike interest rates three times this year to combat inflation.
The benchmark DAX was down 1.1 percent at 13,522 after losing 1.6 percent on Friday.
Deutsche Wohnen SE shares fell more than 2 percent. The property company posted a decline in funds from operations for the first quarter on lower rent revenues.
Semiconductor company Infineon Technologies AG lost 3.2 percent. The company reported that its profit for the second quarter of 2022 climbed to 469 million euros from 203 million euros in the prior year.
DAX Slips On Interest-rate Concerns
2022-05-09 08:54:24
