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DAX Slips Amid Energy Supply Crunch
(RTTNews) - German stocks fell sharply on Monday as a supply squeeze fueled Europe's worst energy crunch in decades.
As Russia turns off Nord Stream 1, the biggest single pipeline carrying Russian gas to Germany for annual maintenance, Germany has warned that Moscow could halt gas flows permanently.
Flows are expected to stop for 10 days, but it is feared that the shutdown might be extended due to war in Ukraine.
Worries about fresh COVID-19 curbs in China also stoked worries about global growth. As cases of COVID-19 continue to rise in nine provinces in China, experts blame food packaging as a risk factor.
The benchmark DAX dropped 112 points, or 0.9 percent, to 12,903 after climbing 1.3 percent on Friday.
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U.S. Dollar Advances Amid Oil-Linked Inflation Concerns, PPI Data Release
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anadian stock market's benchmark S&P/TSX Composite Index fell to five-week low on Thursday, weighed down by concerns about inflation as oil prices continued to surge and bond yields climbed higher.
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U.S. Wholesale Inventories Jump 1.3% In July, In Line With Estimates
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ECB Raises Deposit Rate To 2.50% Amid Inflation Fears
The European Central Bank raised interest rates on Thursday, as expected, prompted by the fears of an inflation shock as energy prices surge amid the recent escalation of the Iran war.
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U.S. Existing Home Sales Drop Below 4.0 Mln For First Time Since June 2025
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U.S. Producer Prices Increase 0.4% In August, In Line With Estimates
Producer prices in the U.S. increased in line with economist estimates in the month of August, the Labor Department revealed in a report released on Thursday. The Labor Department said its producer price index for final demand rose by 0.4 percent in August following a revised 0.1 percent uptick in July.
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