German stocks traded lower on Tuesday after two more Federal Reserve officials have warned that it’s premature to consider cutting interest rates.
However, former Federal Reserve Bank of St. Louis President James Bullard said in an interview with Bloomberg TV that he’s expecting three interest-rate cuts this year and that’s the base case.
Investors looked ahead to U.S. inflation data, the Fed meeting minutes and the ECB policy meeting this week for more cues.
The benchmark DAX was down 83 points, or half a percent, at 18,235 after climbing 0.8 percent in the previous session.
Nordex SE, a wind turbine maker, rose 1.3 percent after receiving orders to supply 295 MW wind turbines from EDF Renewables, South Africa.
Siemens AG edged down slightly. The engineering and technology group said its supervisory Board extended the contract for President and Chief Executive Officer Roland Busch for five years from April 1, 2025.
Market Analysis
DAX Slips Into Red On Uncertainty Over US Rate Cuts
2024-04-09 08:49:45
