German index drops below 4000 points

Dax sackt unter 4000-Punkte-MarkeAFP - vor 10 Std. 57 Min.
Frankfurt/Main (AFP) - For the first time since 4 years DAX closed below 4000 points

Dow and S&P at '97 lows
NEW YORK (CNNMoney.com) -- The Dow and S&P 500 tumbled to levels not seen in nearly 12 years Monday, as investors continue to worry that the government's efforts to slow the recession won't be sufficient.
The Dow Jones industrial average (INDU) lost 250 points, or 3.4%, ending at the lowest point since May 7, 1997.
The S&P 500 (SPX) index lost 26 points, or 3.5%, ending at the lowest point since April 11, 1997.
The Nasdaq composite (COMP) lost 53 points, or 3.7%. The tech-fueled index has held up better than the rest of the market so far this year, closing at the lowest points since Nov. 20, 2008.
"It's fear-based selling," said Dave Hinnenkamp, CEO at KDV Wealth Management. "The fact that we're touching these multi-year lows tells you we don't know where the bottom of this thing is."