Deutsche Bank Shares Plummet, Fueling Crisis Fears
NDTV
Germany's biggest lender dropped more than 14 percent on the Frankfurt Stock Exchange in early trade, before clawing back ground to close 8.5 percent lower, at 8.54 euros.
Shares in Deutsche Bank fell heavily on Friday on the lender's surging cost of default cover, reigniting fears about a widening banking sector crisis. ough the troubles in the banking sector have been linked to their rate hikes.
Germany's biggest lender dropped more than 14 percent on the Frankfurt Stock Exchange in early trade, before clawing back ground to close 8.5 percent lower, at 8.54 euros.
The cost of insuring the bank's debt against a risk of defaulting -- so-called credit default swaps -- has surged as investors fret about the banking sector's health.
Long-troubled Deutsche Bank has become the focus of investor concerns after the collapse of three regional US lenders and the enforced takeover of Credit Suisse by rival UBS triggered market turmoil earlier this month.
