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Deutsche Bank crashes but EURO does not, here’s why
The biggest story in the financial markets today is Deutsche Bank and the growing fear that they will become the next Lehman Brothers. In the last 24 hours shares of DB has fallen more than 7% intraday, the Dow dropped nearly 1% and currencies are falling out of bed. Risk aversion permeated the market on reports that the bank’s hedge fund clients are withdrawing excess cash, lowering collateral on trades and generally reducing their exposure to the bank. DB has been plagued with troubles for the past few weeks but as the company’s stock extended its slide, the tension turned into greater risk aversion. ... (full story)
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