German blue-chip DAX index down more than 3pc in late afternoon

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FRANKFURT: German shares plunged sharply in late afternoon trading on the Frankfurt stock exchange Wednesday, after China further devalued its currency and reported more poor economic data.

The German blue-chip DAX 30 index was showing a loss of 3.18 percent at 10,934.18 points at 1405 GMT after already shedding 2.68 percent on Tuesday.