The uncertainty on the stock market is palpable.

After the long Easter weekend, the Dax initially started the new week with a minus.

Later, thanks to a few positive balance sheets such as that of the laboratory equipment supplier Sartorius, the leading German index went up again.

At the end of the week, however, the already muted optimism waned noticeably.

Antonia Mannweiler

Editor in Business.

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In the USA, the report of lost subscribers to the streaming service provider Netflix caused a minor shock: the share on the stock exchange fell by more than 30 percent.

In general, the former pandemic winners are in a difficult position on the stock exchange. Netflix has been more than 60 percent lower since the beginning of the year, and Delivery Hero is down more than 60 percent.

And the online retailer Zalando also lost 40 percent, Zoom 45 percent.

Interest rate policy could slow down economic growth

The stock market is currently playing the interest rate hike scenario.

Statements such as that by the head of the US Federal Reserve (Fed), Jerome Powell, that the key interest rate may be raised by half a percentage point in May, reinforce this assumption.

So while rate hikes are now being priced in, at least three factors remain unclear: how far and how fast the hike will go, and how the hike will affect economic growth.

In the USA, the inflation rate was more than 8 percent recently, and there is no sign of a slowdown in upward momentum.

There is a great deal of fear among market participants that more aggressive monetary policy – ​​if prices continue to rise at this rate – could slow down the economy.

However, the factors influencing interest rate policy are fraught with question marks.

While the war in Ukraine continues to rage, China is also causing a lot of uncertainty on the market.

In the country, many tapes are idle due to the rigorous zero-Covid policy.

The metropolis of Shanghai has been in a lockdown for several weeks now.

Several thousand cargo ships are swimming in front of the ports of Shanghai, waiting for entry.

It builds up on the world's oceans.

How Beijing's corona policy is affecting production in countries like Germany and prices cannot be said with certainty.

Some experts assume additional pressure on the inflation rate, while others state that China has learned from the experiences of the past two Corona years.