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German investor sentiment plummets
Survey: German investor sentiment plummets over eurozone crisis concerns
By The Associated Press

BERLIN (AP) ' A closely-watched survey shows German investor confidence plummeted in June over increasing concerns about the economies of Spain, Greece and other countries in the eurozone.

The ZEW institute reported Tuesday that its monthly confidence index dropped by 27.7 points to a level of minus 16.9 points ' its strongest decline since October 1998.

ZEW president Wolfgang Franz says financial market experts are clearly warning against an over-optimistic assessment of Germany's economic perspectives this year.

Franz says "The risks of a pronounced decline in economic activity in countries with close trade ties to Germany are very clear."

The experts' assessment of the current economic situation for Germany dropped by 10.9 points to 33.2 points.

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