Germany's largest bank has become the focus in a new wave of selling across banking and wider financial stocks, less than a week after the forced takeover of Credit Suisse.
Deutsche Bank shares were down 11% on the day at one stage, in volatile trading, after a sharp jump in the cost of insuring against the risk of default.Fears about the impact of rising interest rates on banks' bondholdings have since claimed a major scalp in Credit Suisse, Switzerland's second-largest bank.
It was forced by regulators into a takeover by larger rival UBS last weekend, before financial markets opened for business on Monday.Chris Beauchamp, chief market analyst at IG, said:"We are still on edge waiting for another domino to fall, and Deutsche is clearly the next one on everyone's minds .Banking stocks were down across the board in Europe with the FTSE 100 trading 2% down in London, led lower by its constituent banks.
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