Deutsche Bank down 8% to 30-year low
Deutsche bank shares have plunged a further 8% this morning following the news that a number of major hedge funds have withdrawn cash from the stricken bank. Bank representatives have been quick to deny the report and reassure investors, but it appears as though confidence is evaporating.
Shares in Germany's largest bank started to tumble last week after U.S. authorities fined the bank £10.5bn for misselling mortgage-backed securities in the lead up to the 2008 crisis. Deutsche Bank’s market capitalization has fallen over 60% since October, a fall which reflects a deeper concern about the health of the bank.
The real problem ...