12/30/2022, 2:01 PM (Source: TeleTrader)
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German DAX closes almost 150 pts lower, falls 12% in 2022

The German DAX closed lower on the final working day of the year. At the end of the session, the index was 1.05% lower or 148 points, with Zalando SE dropping by 2.92%. Despite increasing by 15% in the last quarter, the index closed the year 12% lower.

The German economy, like others globally, began 2022 struggling with persistent bottlenecks and other constant supply disruptions. Besides, European markets struggled as Russia's war in Ukraine, high inflation, and tightening monetary policy forecast a 2023 of growing uncertainties and recessionary fears.

At 2:00 pm ET, the euro advanced by 0.05% against the dollar, selling for $1.06734.

Baha Breaking News (BBN) / JG