Around the World's Markets: FRANKFURT

GERMAN SHARES lost almost 3 per cent yesterday as Wall Street's woes spilled over to Continental Europe.

The electronically-traded Xetra DAX ended the day down 2.87 per cent at 5,101.41, while the floor DAX tumbled 2.55 percent to 5,087.29.

Telecom stocks were among the major fallers, with Mannesmann tumbling1.63 per cent to 117.70 euros and Deutsche Telekom down3.43 per cent at 36.60 euros.