German stocks fell sharply on Friday, a day after the European Central Bank downgraded its growth forecasts and confirmed its intention to hike interest rates at the policy meeting next month.

Also, concerns mounted about demand and growth in China after Shanghai and Beijing were placed on new COVID-19 alerts.

The dollar edged lower and yields struggled as traders braced for key U.S. consumer inflation data due out later in the day that will guide the Federal Reserve’s policy tightening path.

Economists see an annual inflation rate for May of 8.3 percent, unchanged from April.

The benchmark DAX dropped 176 points, or 1.2 percent, to 14,023 after closing 1.7 percent lower in the previous session.

Market Analysis




DAX Slips Ahead Of US Inflation Data

2022-06-10 08:41:18

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