DAX falls 2% on Fed tapering concerns

Thursday, 19. August 2021 11:11

Major European stock exchanges extended losses on Thursday as concerns sparked by the United States Federal Open Market Committee's (FOMC) discussions about potentially starting to reduce the pace of the Fed's bond-buying program before the end of 2021 seemingly continued to affect investor confidence.

The DAX in Frankfurt dropped 2.09%, or 333 points, at 11:16 am CET, as Infineon Technologies, BASF, Covestro led the losses. London's FTSE 100 was down 2.43% at 11:17 am CET, while the CAC 40 lost 3.09% a minute later.

The euro declined 0.19% compared to the dollar at 11:19 am CET, trading at 1.16899. The British pound was 0.60% lower against the American currency, going for 1.36721 at 11:20 am CET.

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Breaking the News / MS