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Europe stocks down
LONDON – World markets dropped sharply on Wednesday after Germany?s new curbs on traders, a unilateral attempt to reduce volatility in financial markets, spooked investors.
The euro, meanwhile, recovered from four-year lows against the dollar ? hit in the aftermath of the ban ? as traders square off positions and experts suggest European central banks are considering intervening in the markets to slow the currency?s drop. The European Central Bank declined to comment.
By mid-afternoon, the euro was up 0.6 percent on the day at $1.2266, having earlier droped to $1.2146, its lowest level since April 2006.
In Britain, the FTSE 100 index of leading shares was down 131.72 points, or 2.5 per cent, at 5,175.62 while Germany?s DAX plunged 159.63 points, or 2.6 per cent, to 5,996.30. The CAC-40 in France was 83.45 points, or 2.3 per cent, lower at 3,533.87.
Once again, Europe?s debt crisis took center stage ? this time the focus was on Germany, after its regulator?s surprise decision on Tuesday to ban so-called naked short-selling of eurozone government bonds and shares in ten key German financial institutions until March 31. — AP
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