Banking stocks are getting pounded
|09/16/2016||Posted by BusinessMediaguide.Com under General World News||
European banking stocks are taking a hammering on Friday, as investors react to the news that the US Department of Justice is seeking a $14 billion (£10.4 billion) settlement with Deutsche Bank over mortgage-backed security sales related to the financial crisis of 2007-08.
Deutsche crashed 8% at the market open on Friday morning, and that has dragged down shares of other lenders across the continent.
The STOXX Banking Index, which tracks Europe’s biggest banks, is down by around 2.4% at 3:10 ap.m. BST (10:10 p.m. ET), reflecting a general worry in the markets about the outcome of Deutsche Bank’s fine, and read more >>>