Dusseldorf The German stock market was able to stabilize again after a sell-off on Friday evening and closed 1.7 percent down at 14.957 points. During the day, the leading index Dax lost 2.6 percent or 400 points to 14,810 points.
The trigger was heavy losses in Deutsche Bank shares, which plummeted by up to 14.9 percent after the cost of hedging against defaults on the institution’s bonds rose significantly.
>> Read about this: share the Deutsche Bank crashes in the meantime in double digits
At the close of the stock market, Deutsche Bank shares were down around 8.6 percent. Chancellor Olaf Scholz had previously expressed his confidence in the financial institution. Deutsche Bank has fundamentally modernized and reorganized its business model and “is very profitable,” Scholz said after the EU summit in Brussels.
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