After the key interest rate hike in the USA and before the interest rate decision for Europe, the stock market tends to be weaker. The German leading index Dax fell in early trading by 1.00 percent to 14,316.34 points. The MDax lost 0.97 percent to 25,623.33 points and the Eurozone leading index EuroStoxx 50 lost a good one percent in value.

The momentum with which the Dax rose to 14,675 points two days ago after the latest US inflation data is no longer there.

As expected, the US Federal Reserve had raised the key interest rate by 0.50 percentage points the previous evening, at the same time announced further interest rate hikes and also prepared the markets for the fact that interest rate cuts are not yet to be expected in 2023. The background is the still very high inflation, which the European Central Bank (ECB) also has to deal with. That is why their interest rate decision on Thursday is now in focus, supplemented by those in Switzerland, Great Britain and Norway.