Deutsche Bank Shares Tank As Financial Crisis Fears Intensify In Europe - News 3.24.2023

Following a report from BI that banks are sitting on potentially more than US $1.7 trillion in unrealized losses, Deutsche Bank shares fell further on Friday as fears of a broad financial sector contagion grow in the eurozone.

US Treasury Secretary Janet Yellen also reportedly called an emergency or “closed door” meeting of bank regulators on Friday.

Regulators in the US were barely able to contain the loss of confidence introduced by the failure of Silicon Valley Bank, and the Swiss government midwifed an emergency merger/rescue of Credit Suisse with UBS, so a third major failure could be the straw that breaks the proverbial camel’s back.

Time will tell.