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On the sign:
DUBIST ERSCHRECKLICH WER KAN TURDIRSTEHEN WEIL DU ZURNEST: ANNO 1680 SVT OSTDEN NORD DECEMBER 16
The sign shows the Great Comet of 1680, which was the first comet discovered through a telescope, and was one of the most impressive comets seen up to that time. This comet reached peak brightness on December 19, 1680, and it is possible that the December 16 that appears on the sign indicates the day when the comet was clearly visible in the city of Frankfurt.
The text that appears around the sign is probably: So terrible that you are afraid to go out - year 1680 And in the inner circle appear the 4 Cardinal directions of the sky, and an illustration of the comet against the background of the stars.