German stocks drop more than 2.0% over Portuguese crisis

Germany's blue-chip DAX 30 stocks index shed more than 2.0 percent in morning trade on Wednesday amid concerns about the political crisis in Portugal.

After already opening on a weaker footing, the DAX subsequently slid 2.28 percent to an intraday low of 7,730.37 points.

Financial stocks were among the biggest losers, with Commerzbank shares plunging more than 6.0 percent, Deutsche Bank shares down more than 4.0 percent and shares in insurance giant Allianz down by 4.15 percent.