MW: Euro drops; Draghi says debt crisis hits Germany
By William L. Watts
FRANKFURT (MarketWatch) -- The euro dropped versus the dollar and other major rivals Wednesday, with U.S. stock index futures also on the decline, after European Central Bank President Mario Draghi said the euro-zone debt crisis is beginning to have an impact on the region's largest economy. "Germany has so far been largely insulated from some of the difficulties elsewhere in the euro area. But the latest data suggest that these developments are now starting to affect the German economy," Draghi said in remarks prepared for delivery in Frankfurt. The euro EURUSD -0.4733% fell to $1.2747 in recent action, down from $1.2817 in North American trade late Tuesday. A variety of German data have pointed to slowing activity in recent months, raising concerns over a weakening of the euro zone's growth engine, economists have noted.
