Germany's benchmark DAX index continues to slump

The benchmark DAX index at Frankfurt Stock Exchange on Friday continued to decline and it lost over 300 points.

Worries about the growth of the world economy, a possible rate hike in the United States and the political situation in Greece are among the factors that drove down the blue-chip index, according to local analysts. The DAX index lost 307.67 points, or 2.95 percent and closed at 10,124.52 points.

All the 30 DAX member shares suffered losses. Deutsche Lufthansa AG fell by 5.7 percent. Fresenius SE & Co. KGaA, a health care company, declined by 5.31 percent. Fresenius Medical Care AG & Co. slipped by 4.72 percent. The two utilities companies, RWE AG St and E.ON SE plunged by 4.72 percent and 4.34 percent.

The turnover stood at 6.5 billion euros (around 7.25 billion U.S. dollars). Daimler AG was the most traded share of the day with a turnover of 612.71 million euros (around 683.63 million U.S. dollars).