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To look away:
A trader on the New York Stock Exchange may not quite believe the price drop on Tuesday.
The drop in prices on Wall Street is having an impact and is also pushing the prices in Germany on Wednesday morning before the market
Photo: Eduardo Munoz Alvarez / dpa
The shock after the US inflation data from the previous day also had the
Dax
under control on Wednesday.
After the slump in the most important US indices, broker IG estimated the leading German index to be 0.7 percent lower at 13,096 points about two hours before the start of Xetra.
The day before, the Dax had approached its 100-day line at 13,564 points before high US inflation caught investors by surprise.
The Dow Jones
then temporarily fell back to the level of mid-July.
Parallel to the deeply red stock markets, the US dollar and capital market interest rates in the USA rose sharply after the disappointing inflation data, which suggests that investors are expecting further significant interest rate hikes by the US Federal Reserve.
Core inflation, which is so important for the Fed's course and which ignores volatile energy and food prices, was surprisingly 0.6 percent above the previous month and 6.3 percent above the same period last year.
With regard to the stock market, Commerzbank then spoke of a "sell everything day" - a day on which investors completely shy away from risks and sell across the board.
Ultimately, the most important stock indices on the New York Stock Exchange ended trading with heavy losses, and futures in the USA showed only a slight recovery early in the morning.
The US standard value index
Dow
Jones
closed 3.9 percent lower on Tuesday at 31,104 points.
The tech-heavy Nasdaq fell 5.2 percent to 11,633.57 points.
The broad S&P 500 lost 4.3 percent to 3932 points.
Indices in Asia dive, euro still below dollar parity
The stock exchanges in Asia were also clearly in the red in the morning (CET, 7.30 a.m.): The
Nikkei
fell 2.7 percent to 27,841 points.
On the Chinese mainland stock exchange in Shanghai, the leading index was 1 percent weaker at 3229 points.
The Hang Seng in Hong Kong fell 2.5 percent to 18,838 points
On the US futures markets, however, it is now firmly expected that the US Federal Reserve will take a third major interest rate hike of 0.75 percentage points on September 21st.
The key interest rate would then end up in a range of 3.00 to 3.25 percent.
The euro continued to trade below par with the US dollar on Wednesday morning.
The common currency cost $0.9995, a little less than a dollar.
The European Central Bank (ECB) had set the reference rate significantly higher on Tuesday afternoon at $1.0175.
The euro was recently burdened by the strong appreciation of the US dollar.
The trigger was US inflation figures from Tuesday, which point to further significant interest rate hikes by the US Federal Reserve.
As a result, capital market interest rates in the USA rose on the financial markets, giving the dollar considerable momentum.
Bitcoin is stuck deep in the red
The digital currency Bitcoin had also slipped after the release of the US inflation data.
Most recently, the cyber currency on the Coinbase trading platform was almost 10 percent weaker than the day before.
The cryptocurrency has been under pressure since the beginning of the year.
Bitcoin hit a record high of $69,000 in November last year.
Oil prices hardly changed
Oil prices were little changed on Wednesday morning.
Most recently, a barrel (159 liters) of North Sea Brent cost $93.19.
The price for a barrel of the US West Texas Intermediate (WTI) variety was also slightly changed at $87.36.
With news agencies