Banking Crisis: Deutsche Bank Suffer Panic Sell Offs
N/A • 28 March 2023 00:30
German Bank, Deutsche Bank has become the latest bank to suffer panic-driven sell-offs. Amid a banking crisis started by the failure of California Silicon Valley Bank, that is now seemingly spreading panic to Europe.
Last Friday, the shared of Deutsche Bank plunged to 8,5-3 percent as the cost of insuring against the bank's default saw a sudden spike.
At one point during Friday's trading, the bank's shares even managed to drop 14 percent.
But today, Deutsche Bank's shares rebounded, managing to gain by 4,1 percent as of 8.29 London Time.
Credit default swaps are a form of insurance for a company's bondholders against its default, that surge, hence is reflecting rising concerns.