German stocks fell in cautious trade on Wednesday as concerns about COVID-19 continued to weigh and investors awaited the latest Federal Reserve minutes to gauge the direction of monetary policy.
Fed Chair Jerome Powell said at a town hall meeting on Tuesday that it remains to be seen how the U.S. economy will weather the recent COVID-19 surge.
Separately, Minneapolis Federal Reserve President Neel Kashkari said there still is “a lot of slack” in the U.S. labor market and high inflation readings will subside as workers return to the labor force.
The benchmark DAX dropped 44 points, or 0.3 percent, to 15,877 after finishing marginally lower the previous day.
Automakers fell the most, with BMW, Daimler and Volkswagen losing 1-2 percent.
DAX Edges Lower Ahead Of FOMC Minutes
2021-08-18 09:09:49
