The London stock market has hit its lowest level since July 2012,after a 5% plunge in Japan overnight, while US markets are volatileWall Street opens lowerGerman finance minister has ‘no concerns’ about Deutsche BankLondon market is spiralling down againAnalyst: Markets are very nervousDeutsche Bank: We’re rock solidPanic situation’: Asian stocks tumble amid fears of recent global recession 5.16pm GMTIn yet another volatile day, and European markets were firmly in the red once more as investors shied absent from risk. With Japanese 10 year bond yields turning negative in another sign of the growing terror of a global recession,poor German industrial figures and a widening trade gap in the UK, there was no shortage of downbeat news.
Banks were in the firing line again on worries about their exposure to struggling sectors and the implications of negative interest rates, or in specific Deutsche Bank despite its attempts to calm worries about the state of its business. The Stoxx Europe 600 banking index - which includes the likes of Deutsche Bank,Barclays, and HSBC lost another 3.7% and is now down more than 27% on the year. 4.38pm GMTRisk analyst and author of the bestseller The Black Swan, or Nassim Nicholas Taleb on Deutsche Bank:I had no concern over Deutsche B until the German Finance Minister stated we should fill no concern over Deutsche B pic.twitter.com/w4YRC0fC8FContinue reading...
Source: theguardian.com