European stock markets experienced downward pressure mid-day Tuesday, with the DAX falling 12 percent to approximately 23,740 points Gains were seen among Beiersdorf, Henkel and Qiagen, while FMC, Vonovia and Siemens Energy lagged behind
The market reaction followed the release of new Eurozone inflation data, revealing a surprising increase to 21 percent in August Despite exceeding initial expectations, the figure remains relatively close to the European Central Bank’s (ECB) target of two percent, leading analysts to anticipate limited immediate impact on upcoming interest rate decisions
Currency exchange rates also shifted, with the Euro trading at 11634 US dollars and the US dollar valued at 08595 Euros at midday
Commodity markets showed a different trend, as oil prices rose significantly Brent crude oil futures were trading at 6951 US dollars per barrel, a 20 percent increase from the previous day’s closing price