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Updated 06:14 27/02/20

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Deutsche Bank’s share price plunges as equity markets see red

Duncan Richardson, News Editor
9 Feb 2016, 11:07 a.m.

Deutsche bank shares tumbled 8.5% yesterday as European markets spent the day in the red. The FTSE 100 dropped 2.7%, the Dow Jones Industry Index fell 1.1% and the Athens stock market finished at a 25 year low.

Bank shares led the downturn, with Barclay’s finishing 5.3% down, HSBC fell 4.2%, Lloyds dropped 3.9% and RBS finished down 4.6%.

After falling 10% Deutsche Bank attempted to calm the markets by issuing a statement defending its liquidity. Deutsche bank has a $50 trillion derivative exposure and many believe it’s only a matter of time before they are bailout by the German taxpayer.

Investors are worried over a global downturn at a time when central bankers have very little ammunition left.

The carnage spilled over into Asia where once again the banks suffered big losses. Mizuho Financial Group fell 5.8%, Sumitomo Mitsui dropped 8.7% and Mitsubishi plunged 8.3%. The Nikkei 225 has fallen 20% from its June high.

View original source at: www.cityam.com

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