Black Wednesday for the main European stock exchanges that have been dragged downward by the letter that was shot down on the new economy and the banks. Paris has lost more than 3% with the CAC40, which fell heavily under 6 thousand share points, driven by Alcatel (-10%) to 68.8 euros and France Telecom (-6%). Frankfurt (-2.5%) saw the debacle of Deutsche Bank (-7%), Dresdner B. (-7%) And Epcos (-11%). London (-2.2%) saw the thud of Vodafone (-6%), WPP (-8.5%) and Halifax (-4.8%).