Deutsche Bank Sinks to New Low on $14 Billion Fine Fallout

Deutsche Bank shares hit a new low Tuesday as the fallout from the $14 billion fine U.S. authorities levied against the German bank last week continues to take a toll on the stock. U.S. banking authorities slapped Deutsche Bank with the fine for mis-selling mortgage-backed bonds before the financial crisis of 2008. Reports the German government would not intervene in the ruling if it were asked to by the bank were helping to unnerve investor confidence. However, the bank has stated that "At no point has [chief executive] John Cryan asked Chancellor [Angela] Merkel to intervene in the [residential mortgage-backed securities] issue with the US Department of Justice."