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DAX Drops as ECB Hikes Rates and Oil Spike Fuels Inflation Fears

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The Story

News Summary

  • European stocks tumbled after the European Central Bank raised interest rates by 25 basis points and lifted inflation projections above its 2% target.
  • Surging crude oil prices and accelerating German inflation heightened stagflation worries, pulling Germany's DAX down 0.84% alongside broad European equity losses.
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