Shares of Deutsche Bank, Other Euro Lenders Tumble – Finance Bitcoin News

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Deutsche Bank shares plunge amid investor concerns about stability.

Deutsche Bank shares plunged on Friday, along with the stocks of other European banks, amid investor concerns over the stability of the global banking sector. The drop comes in the aftermath of the recent emergency rescue of Credit Suisse and follows losses in U.S. banks on Thursday.Deutsche Bank

Having lost a fifth of their value since the start of the month, Deutsche shares plunged almost 15% on March 24, their lowest level in five months, Reuters pointed out. The report noted that in just one week, Germany’s largest lender has seen $3 billion wiped off its value. The swaps rose for other leading European banks as well. The shares of Commerzbank, another German banking giant, France’s Societe Generale and the Spanish Banco de Sabadell also saw steep declines on Friday, Bloomberg reported.of Switzerland’s Credit Suisse by rival UBS. Both groups are now under scrutiny in connection with a U.S. Justice Department probe into whether bankers helped Russian oligarchs evade Western sanctions.

Deutsche Bank was the biggest loser on Friday, prompting a reaction from German Chancellor Olaf Scholz who rejected comparisons with the case of Credit Suisse. At a summit in Brussels, he was quoted by the Financial Times as stating:

 

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Finance Finance Latest News, Finance Finance Headlines

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Deutsche Bank and UBS shares hammered as banking fears keep tight gripBanking stocks fell sharply in Europe on Friday with heavyweights Deutsche Bank and UBS Group pummelled by worries that the worst problems in the sector since the 2008 financial crisis have not yet been contained. Thumbs down. Time to buy and HODL🫡 BTC
Source: Reuters - 🏆 2. / 97 Read more »