Around the World's Markets: Frankfurt

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The Independent Online
GERMAN STOCKS fell more than 5 per cent as the dollar plunged to 1.5875 marks - the lowest level in 20 months.

The electronically traded Xetra DAX closed down 4.98 per cent at 3,861.89, while the floor-traded benchmark closed down 4.69 per cent at 3,896.08, with shares in German exporters suffering some of the worst losses as their products become less attractive abroad.

"Interest in buying shares is very low," one dealer in Frankfurt said. "Cash is king."