Germany's news in English

Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

DAX plunges under 5,000 points

Share this article

DAX plunges under 5,000 points
Photo: DPA
10:28 CEST+02:00
Germany's leading stock index the DAX plunged below the psychologically important 5,000 mark in early trading on Wednesday, as investor flight from equities continued.

The index of Germany's top 30 listed companies fell around six percent in the opening minutes of trade to 4,999 points. Traders in Frankfurt said the horrific losses suffered earlier in Asia were pressuring things lower and the DAX then tanked 8.5 percent to 4,880 – a level not seen since 2005.

“There are real fears that the financial crisis will affect the real economy causing a recession,” said one trader.

Japan's Nikkei index dropped a massive 9.4 percent earlier on Wednesday to hit its lowest point since 1987.

Get notified about breaking news on The Local

Share this article

From our sponsors

Get a month's worth of your favourite newspapers and magazines - for free

Readly - the 'Spotify of magazines' - is offering readers of The Local a free month's worth of unlimited all-you-can-read magazines. All you need to do is answer one quick question.