Newspaper article St Louis Post-Dispatch (MO)

U.S. Stocks Slide as Banks Tumble on Deutsche Bank Worries

Newspaper article St Louis Post-Dispatch (MO)

U.S. Stocks Slide as Banks Tumble on Deutsche Bank Worries

Article excerpt

NEW YORK * Growing concern about the financial health of Germany's largest bank weighed on investors Monday, and banks took the largest losses on Wall Street.

Europeans banks tumbled after the German magazine Focus said Deutsche Bank, which faces a stiff fine from the United States, won't get a government bailout if it asks for one. Its report, published Friday, cited "government circles" as its source.

Focus also reported that the German government won't intervene on Deutsche Bank's behalf with U.S. officials who want it to pay $14 billion to end an investigation into its sale of mortgage-backed securities.

The bank's U.S.-listed shares tumbled 90 cents, or 7.1 percent, to close Monday at $11.85. The stock is down 51 percent this year. …

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