Yesterday was a very heavy day for the stock markets in general and for the German one in general, with over -4%.
Clearly, the new news, not at all positive, of an increase in infections in France, Spain, Germany and Italy, with the danger of a return to a more or less widespread lockdown situation, had a considerable weight. Yet health concerns may not have been the only ones driving this fall. There could be more, much more.
Let's see for example how Deutsche Bank was literally demolished yesterday, with a drop of over 8%.
We note that Commerzbank has lost a good 5%. why this fall linked to the banking sector?
Amid the already heavy general day, banks fared even worse following a series of reports, which spoke of $ 2 trillion in suspicious transactions made by some of the world's largest lenders between 1999 and 2017 . The transaction information comes directly from the delivery of 2,100 suspicious transaction reports delivered by the banks themselves, but evidently their fallout has been far greater than they initially suspect.
BuzzFeed News reported the transactions in collaboration with the International Consortium of Investigative Journalists
Obviously, investors became foggy as soon as the news broke: those who want to have shares in a bank that is under investigation by the national authorities. The reports were delivered by the banks themselves to have some sort of immunity, at least at certain administrative levels, but they will certainly have serious consequences for customers. not surprisingly, the suspicious transactions refer to: Deutsche Bank (DB) for $ 1300 billion, the highest among the banks identified, then JPMorgan Chase (JPM), with $ 538 billion. Standard Chartered (UK: STAN) for $ 166 billion and Bank of New York Mellon (BK) $ 64 billion. Now you understand why deutsche Bank was hit so hard: what will be the consequences of these complaints?
PS: You haven't heard anything about the mainstream media, but don't worry, they will protect the people behind these transactions.
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/ieri-hanno-massacrato-deutsche-bank-solo-problemi-di-covid-19-o-anche-indagini-su-riciclaggio/ on Tue, 22 Sep 2020 05:30:42 +0000.