Deutsche Bank plummets as Italy crisis rocks global banks

Markets Insider

• Shares in Germany's biggest bank, Deutsche Bank, are plummeting on Tuesday morning as market turmoil surrounding the Italian political crisis spreads to the shares of global banks.
• By around 11.20 a.m. BST (6.20 a.m. ET) Deutsche Bank's shares have fallen close to 5% on the day, dropping to a level not seen since autumn 2016, a period when there were genuine fears the bank was about to go under. Deutsche Bank's share price is at €9.87 ($11.46).
• The main driver of Deutsche's falling share price is the news that Italy is likely to hold a fresh round of elections later in 2018, which has fueled speculation that the country could be moving towards an exit from the eurozone. This has triggered a major sell-off in markets, with Italian bonds in particular suffering.
• Deutsche Bank is not the only bank impacted, with the Euro Stoxx banking index - which tracks Europe's major lenders - is down more than 4% on Tuesday.
• You can follow Deutsche Bank's share price live on Markets Insider.

Visit Markets Insider for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. Go Now!