European banks head into another weekend of uncertainty as default risks surge By Cointelegraph

European banks are going into the weekend with renewed fears surrounding their future, as shares of Deutsche Bank (ETR:) plunged over 7% on the New York Stock Exchange on March 24, after a down day on Frankfurt’s markets.

Deutsche Bank shares were impacted by an increase in the cost of insuring against its potential default risk. The German bank’s five-year credit default swaps, known as CDS, climbed 19 basis points (bps) from the previous day, closing at 222 bps, according to Reuters, which cited S&P Global Market Intelligence data. On March 23, the bank’s CDS rose to 173 bps from 142 bps the previous day.