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Piero Cingari

US Financial Stocks Plummet On Fears Of Contagion After Deutsche Bank Selloff

Deutsche Bank United States Credit Suisse David Enrich Olaf Scholz
Deutsche Bank logo displayed on mobile with on-screen stock graph & Deutsche Bank. On 26 March 2023 in Brussels, Belgium. Deutsche Bank appears to be the latest victim of the market’s panic. JONATHAN RAA/BENZINGA

U.S. bank stocks were taking a heavy hit in Friday trading following the sharp pullback in European financial equities, dragged down by the sell-off in Deutsche Bank.

Deutsche Bank’s U.S.-listed shares fell about 6% after the firm said Thursday that it will forgo an AT1 call this year, causing a spike on the cost of insuring the bank’s debt against failure. 

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