Around the World's Markets: Frankfurt

LATIN AMERICAN worries and concerns about slower corporate profit growth hit share prices in Frankfurt, where the electronic Xetra Dax index closed down 3.01 per cent - or 155.24 points- at 5008.21. The floor Dax fell 2.66 per cent to 5,019.28.

Shares in Siemens fell 4.97 per cent to 57.80 euros after the firm said it expected sales growth to slow and car stocks fell after Volkswagen said the industry needed to rationalise. Banking stocks were also hit by concerns over exposure to Latin America.