DAX and euro slide to new lows

Stocks and the euro were battered on Friday, as Germany’s leading stock index the DAX hit a three-year low in early trading and the single currency dipped to the lowest point this year against the US dollar.

DAX and euro slide to new lows
Photo: DPA

A slide on Asia’s equity markets heading into the weekend weighed heavily on German shares, causing the index of the country’s top 30 listed companies to fall to levels not seen since May 2005. In midmorning trading the DAX was down 6.8 percent at 4,203 points.

Automaker stocks were under particular pressure, with VW off by 10 percent, Daimler down 11 percent, and BMW by 8 percent.

The euro also took a beating on Friday, hitting a new low against the greenback as foreign investors from Asia and elsewhere pulled out of the single currency to bring their money home. In early trading the euro fell to $1.2624 – the lowest exchange rate this year.


Emergency numbers fail in several German states

Callers to the emergency numbers 110 and 112 weren’t able to reach operators Thursday morning in several German states.

The 112 emergency number on an ambulance.
The 112 emergency number on an ambulance. Photo: picture alliance/dpa | Boris Roessler

The emergency number 110 for police and 112 for fire crews failed around the country early Thursday morning, with callers unable to reach emergency operators for urgent assistance between about 4:30 am and 5:40 am local time.

The Office for Civil Protection and Disaster Aid is looking into these outages, which were reported in states including Lower Saxony, Baden-Württemberg, and  Brandenburg, and in major cities like Berlin, Cologne, Hamburg, and Frankfurt. Cologne was further affected by cuts to electricity, drinking water, and regular telephone services. Lower Saxony also saw disruptions to the internal phone networks of police and hospitals.

Emergency services are not reporting any more disturbances and people should be able to once again reach 110 and 112 around the country as normal.

Investigators are looking into the problem, but haven’t yet established a cause or any consequences that may have happened due to the outage. Provider Deutsche Telekom says they have ruled out the possibility of an attack by hackers.