Here Is Why Investors Are Freaking Out About Deutsche Bank
Investors are worried Deutsche Bank doesn't have enough capital to cover the $14 billion fine it faces from the U.S. Justice Department.
Deutsche Bank (DB) - Get Report vows to negotiate the U.S. Justice Department's $14 billion fine lower, but even if that happens, there's still plenty of negativity surrounding the stock, according to one analyst. James Hughes, chief market strategist at GKFX, based in London, said the bank has set aside $6 billion to deal with legal fines - far less than the Justice Department's fine. He said there's concern Deutsche Bank doesn't have enough capital to cover the fine. Shares plunged to a record low on Monday after Germany's government said it wouldn't bailout the bank. TheStreet's Scott Gamm reports from Wall Street.
