After The Bell: Stocks Lower On Deutsche Bank Concerns

(CBS) — Stocks closed sharply lower Thursday as concerns surrounding Deutsche Bank spread across the banking sector and financial markets at large.

The S&P 500 dropped 20, the NASDAQ lost 49, and the Dow Jones Industrial Average shed nearly 196 points, settling to 18,143.

“We got hit in the head with this two-buy-four, this news that some Deutsche Bank hedge fund clients are starting to pull assets out of the firm’s prime brokerage business,” said Mike Larson, Interest Rate & Real Estate Analyst at Money and Markets in Jupiter, Fla.  “As soon as you saw that news, pretty much people hit the sell button and got out of the market.”

WBBM’s Andy Giersher

chi nutu cbs logos After The Bell: Stocks Lower On Deutsche Bank Concerns
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