Markets

DAX Dips As Inflation Concerns Mount

May 19, 2021 — 04:48 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - German stocks succumbed to selling pressure on Wednesday amid concerns that a persistent overshoot in inflation might force central banks to tighten their easy monetary policies.

Investors wait for more clues on policymakers' views on inflation when the U.S. Federal Reserve releases minutes of its most recent policy meeting later in the day.

The benchmark DAX tumbled 215 points, or 1.4 percent, to 15,170 after closing 0.1 percent lower the previous day.

Automakers BMW, Daimler and Volkswagen fell 1-2 percent despite positive data.

European new car registrations rose 24.4 percent year-on-year in the January to April period to 3.4 million units due to the low base of comparison amid coronavirus restrictions, data from the European Automobile Manufacturers Association/ACEA showed earlier today.

Infineon Technologies fell 2.2 percent on concerns about a global semiconductor shortage and disruption of supply chains due to COVID-19.

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