Deutsche Bank shares slid 5% in early trading on Monday, touching an all-time low below €11 a share.
Germany’s biggest lender faces billions in legal costs and settlements with US authorities over an investigation into sales of mortgage-backed securities, which would leave the bank seriously undercapitalised.
Deutsche Bank has lost 53% of its equity market value so far this year.
Here is Deutsche Bank:
Deutsche Bank has dragged down Germany’s wider stock market – the DAX Index.
Here is the chart:
Meanwhile Brexit continues to weigh on UK stocks, with concerns that Prime Minister Theresa May’s government is preparing for a so-called hard Brexit that would see the UK lose membership of the European Union’s single market and customs union.
Around three-quarters of chief executive officers said they would consider moving operations from the UK to Europe in the wake of Brexit, according to a survey of 100 CEOs from accountancy firm KPMG,
Here is the FTSE 100:
That is also weighted on the pound, which has dropped against the dollar and looks unlikely to climb back above $ 1.30 on Monday.
Here is Sterling:
NOW WATCH: STIGLITZ: There are so many ways that Trump is wrong about the economy