FRANKFURT (dpa-AFX) - After a successful start to the year so far, the German stock market was able to settle down somewhat in the middle of the week. The Dax is initially expected to move little on Wednesday after two strong trading days. The broker IG put the German leading index at around 20,315 points, slightly lower, about two hours before the start of trading. However, it is still close to the record high of mid-December: the index is just under one percent short of the high of 20,522.

The US set a negative example, with Wall Street and even more so the technology exchange Nasdaq heading downhill. Market expert Stephen Innes of SPI Asset Management points to the sharp rise in capital market interest rates in the US. On the bond market, the yield on ten-year US securities rose to almost 4.7 percent, its highest level since April last year. "The increase is a clear reminder of the changing mood among investors," said Innes, referring to the declining probability of interest rate cuts by the US Federal Reserve. One of the reasons for this is the stubbornly high rate of inflation.