Banks are valued cheaply, analyzes Handelsblatt editor Ulf Sommer. But that currently only plays a subordinate role.
Frankfurt Is the financial crisis back? A look at the stock market feeds such speculation. The Dax slipped three percent below the 15,000 point mark on Monday and ended trading at 14,959 points. The trigger was the bankruptcy of the Silicon Valley Bank, which focused on financing young tech companies.
The fact that the US government publicly guaranteed the protection of all deposits and took similar measures for Signature Bank in New York, which was also closed by the authorities, reassured bank customers, but not stock market investors.
>> Read here: The markets worry about new bank failures – Short sellers bet on falling prices
In Germany, this approach brought back memories of the financial crisis in October 2008, when then Chancellor Angela Merkel and Finance Minister Peer Steinbrück promised after the US investment bank Lehman bankruptcy that the funds would be safe with the banks.
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