European banking shares dive amid threat of Deutsche Bank fine

Discussion in 'Market News' started by Lily, Sep 16, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    German lender vows to fight $14bn charge threatened by US Department of Justice as investors pile out of sector

    Shares in Deutsche Bank plunged 8% on Friday morning after the German lender was threatened with a $14bn (£10.6bn) charge by US for mis-selling mortgage-backed securities in the run-up to the financial crisis.

    It triggered a large sell-off of banking shares across Europe, as investors spooked by the prospect of Deutsche paying a large settlement after an investigation by the US Department of Justice (DoJ) piled out of the sector.

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