Shares in the beleaguered bank lost more than 7% yesterday driving them to their lowest level. Fears that the bank was not strong enough to handle the Department of Justice's initial settlement charge of $14 billion prompted a wide selloff yesterday. The bank was forced to deny that it had sought help from the German government.
The markets opened in positive territory as they cheered what was perceived to be a "win" by Democratic candidate Hillary Clinton in yesterday's televised debate However, by mid-morning markets were firmly in the red.
It was the first time Clinton and Republican nominee Donald Trump came face to face.
The candidates clashed on issues including tax returns, trade and foreign policy but commentary suggested Clinton was perceived as the better prepared.
A national polling average compiled by Real Clear Politics put Clinton 2.3 percentage points ahead of Trump. The pair will face off two more times ahead of the Nov. 8 election.
U.S. futures were pointing to a positive opening. Dow Jones Industrial Average mini futures were recently up 0.12% and S&P 500 mini futures were up 0.18%
In London, the FTSE 100 was recently down 0.19% at 6,804.79.
In Frankfurt, the Dax had lost 0.76% to 10,314.79 and the Cac 40 was down 0.35% to 4,392.45.
The Euro Stoxx banking index, the SX7E, had also taken a dramatic turn down 1.52% at 89.99.
Commerzbank (CRZBY) , who had been in talks about a merger with Deutsche Bank, was recently down 2.66% after reports that it was looking to shed 9,000 jobs.
In London, building materials supplier Wolseley (WOSYY) , whose brands include Plumb Center and Ferguson, lost more than 3% after it committed £100 million ($129.5 million) to restructuring the U.K. business.
The company posted "disappointing" full-year results and said it would close 80 branches in the U.K. and a distribution center. The company was propped up by its U.S. business. Overall same-store revenue rose 2.4% to £14.4 billion.