The German stock market was hit hard by the tougher sanctions against Russia. The leading DAX index fell in early trading by 2.33 percent to 14,228.24 points.
Stock markets across Europe also fell. The EuroStoxx 50 leading index in the eurozone recently fell by three percent. Shares in the banking sector suffered as many Russian banks were excluded from the express payment system. Deutsche Bank and Commerzbank lost about 8 percent.
