Frankfurt stocks down 3.19pc
FRANKFURT: Frankfurt's DAX index of leading shares plunged 3.19 percent to 6,210.19 points in early trading on Friday, continuing a heavy sell off on eurozone debt and growth concerns.
Shortly after the open, the DAX fell as low as 6,152.62 points before recovering somewhat.
The drop was mirrored across the continent as markets buzzed with talk about the chances of a double dip recession in Europe and the United States.
In Asia, stock markets had closed with heavy losses owing to fears that the world is heading towards another financial crisis.
Traders underscored alarming comments by European Commission president Jose Manuel Barroso on Thursday who had called for a beefing up of the EU's debt rescue mechanisms.
"It is clear that we are no longer managing a crisis just in the euro-area periphery," Barroso warned in a letter sent to the 17 eurozone leaders.
Copyright AFP (Agence France-Presse), 2011
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