DW-World.de
Deutsche Welle

Global stock markets have plummeted amid deepening concerns over a financial crisis. In New York, the Dow Jones index has dropped below 10,000 points for the first time in four years. Germany's main share index, the DAX, was among a basket of European indices to drop below seven percent. Trading was suspended on Russian and Brazilian markets, among others, due to severe losses. The euro has plunged to its lowest value in 13 months, at 1.35 US dollars, and oil has dropped below 90 dollars on the back of fears of a global recession. Investors around the world are seen as reacting negatively to US and European efforts to alleviate the credit crisis facing financial institutions.