European financial institution founded 153 years ago, fell as much as 15 percent Friday morning
even though the bank said it would pay back one of its riskier bonds. By early afternoon, the stock had somewhat recovered from those losses and was down about 2.8 percent.all fell more than 0.7 percent in trading Friday morning before making up for most of those losses by lunchtime. Broader European markets took a bigger hit, with the STOXX Europe 600 down around 1.69 percent. The index includes Deutsche Bank and other major European lenders.
Still, German Chancellor Olaf Scholz on Friday brushed aside fears of broader turmoil, saying there is “no reason to be concerned.”“Deutsche Bank has modernized and organized the way it works,” he told reporters after a summit of European Union leaders,The bank’s stock slip is just the latest episode in two weeks of mounting turmoil as the global banking sector has been rocked bycollapsed earlier this month, spiking concern in similar midsize banks.
The banking crisis has ended half a dozen times this week. It will be solved on Sunday night and will end a few more times next week.
Odd how this happens on Brandon's watch isn't it?
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