NEW YORK, March 25 — Global stock markets swooned yesterday as fears about contagion among banks hobbled shares of lenders such as Deutsche Bank, with the flight from risk...
NEW YORK, March 25 — Global stock markets swooned yesterday as fears about contagion among banks hobbled shares of lenders such as Deutsche Bank, with the flight from risk shoring up the dollar and driving bond yields lower.
“As concerns about the stability of banks persist, we expect further and intensifying market volatility,” Green said. A STOXX sub-index of bank shares, which has swung wildly this week as traders debated if a forced weekend tie-up between Credit Suisse and UBS was a mark of stability or incoming systemic stress, dropped 4.64 per cent, heading for its third consecutive week of declines.
“I don’t expect this volatility to subside anytime soon,” said Peter Doherty, head of investment research at private bank Arbuthnot Latham in London.
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