Banking stocks slide as global investors seek safer shores

Shares in Germany's largest bank have lost a fifth of their value so far this month and the cost of its five-year credit default swaps - a form of insurance for bondholders - jumped to a four-year high on Friday, based on data from S&P Market Intelligence.

JPMorgan analysts also said that the Deutsche Bank share drop was not a reflection of the fundamentals of the bank. "All these elements, which is what UBS shareholders bought into, are gone, likely for years," it said.Market cap of US regional banks included in the S&P 500 regional bank indexThe way Credit Suisse was rescued has also ignited broader worries about investors' exposure to the banking sector. The decision to prioritise shareholders over AT1 bondholders rattled this sector of the bond market.

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