FRANKFURT -- The rout continued, with stocks and investor sentiment in freefall.
Indices fell 4%-6% before bouncing modestly. Markets remained wobbly, jittery and at the mercy of Wall Street.
Banks again got whacked as sellers jumped off the sinking financial ship. The Dutch bank
dropped 13% after last night's profit warning and dismissal of 1,200 employees. Top-level
officials resigned today to accept blame for
Long Term Capital Management
hedge fund losses.
fell 9%, bringing its loss this week to 21%. But banks were not alone in being walloped. In Paris, leading software firm
tumbled 12% and in London
dropped 10% on news that
won't join the
shares fell 9% in Frankfurt on the news.