Ripple effects, contagion, counterparty risk as banks and crypto stocks slide

Quick Take

• Deutsche Bank AG (DB) is currently 15% down in share price — lower than 8 EUR.
• While DB credit default swaps hit 4-year highs.
• Contagion fears spread as US regional banks stocks hit new lows.
• European bank stocks have given up all their gains for 2023 — falling as much as 20% since earlier this month.
• Bitcoin holds firm above $28,000 — while Coinbase and Square head lower in pre-market trading.

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  European Bank Stocks: (Source: Bloomberg)

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