Courtesy of Mish.
Deutsche banks shares are plunging again in morning European tradings. It’s 4:13 AM in Chicago, but Germany is seven hours ahead making it 11:13 AM in Germany.
Deutsche Bank shares today set yet another record low in price. The Telegraph reports Deutsche Bank rout deepens: Shares plunge below €10 for first time ever.
What is going on?
Perception Issue
The first thing we can rule out is Deutsche Bank’s comment this is a “perception issue”.
Banking stocks do not plunge from over $100 to under $10 on perception issues.