FRANKFURT (dpa-AFX) – Investors in the German stock market will have to cope with the next setback on Wednesday. A weak Wall Street and the data on consumer prices from Germany due in the afternoon call for caution. The Dax (DAX 40) fell a few minutes after opening on Xetra by 1.04 percent to 13,094 points. The MDAX of medium-sized stocks lost 1.20 percent to 26,795 points. The Eurozone leading index EuroStoxx 50 (EURO STOXX 50) is also down 0.9 percent.

The environment for shares remains difficult due to economic fears and concerns about an energy crisis, it said from Helaba. The technical picture in the Dax also shows risks. Ultimately, the downward impulse is intact, so that the risk of a price drop should again be weighted higher than a liberation, according to the experts.

On the New York stock market, the bad consumer mood in June had weighed on the previous day. Consumer spending is by far the same pillar of the entire US economy. The revised growth outlook of the experts at Credit Suisse is now “on the edge of recession”.

In Germany, new inflation data are due in the afternoon. The inflation is still very high, in Germany as in the whole euro zone. The European Central Bank (ECB) is therefore under pressure to raise interest rates, possibly even with larger steps than initially thought. Curbing inflation while avoiding a recession is currently the dilemma facing central banks./ajx/jha/