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Shares of Germany’s largest lender Deutsche Bank fall amid global jitters over bank

Shares of Germany’s largest lender Deutsche Bank fall amid global jitters over bank

FRANKFURT, Germany (AP) — Shares in Deutsche Bank fell sharply Friday,

FRANKFURT, Germany (AP) — Shares in Deutsche Bank fell sharply Friday,

dragging down other major European banks and leading German

Chancellor Olaf Scholz to express confidence in the country’s largest lender after

Chancellor Olaf Scholz to express confidence in the country’s largest lender after 

fears about the global financial system sent fresh shudders through the market. 

fears about the global financial system sent fresh shudders through the market. 

Deutsche Bank shares closed down 8.5% on the German stock exchange after falling as much as 14% 

Deutsche Bank shares closed down 8.5% on the German stock exchange after falling as much as 14% 

That followed a steep rise in the cost to insure bondholders against the bank defaulting on its debts, known as credit default swaps.

That followed a steep rise in the cost to insure bondholders against the bank defaulting on its debts, known as credit default swaps.

Rising costs on insuring debt were also a prelude to Swiss lender Credit Suisse’s government-backed rescue by rival UBS.

Rising costs on insuring debt were also a prelude to Swiss lender Credit Suisse’s government-backed rescue by rival UBS. 

That hastily arranged takeover Sunday aimed to stem the upheaval in the global financial system after the collapse of two U.S

That hastily arranged takeover Sunday aimed to stem the upheaval in the global financial system after the collapse of two U.S 

Banks and jitters about Credit Suisse’s long-running troubles led its shares to tank and customers to pull out their monee.

Banks and jitters about Credit Suisse’s long-running troubles led its shares to tank and customers to pull out their monee.