Overseas Trading: DOJ Fine Blasts European Bank Stocks

While bank stocks bounced back in Japan, they're getting crushed in Europe after the DOJ fined Deutsche Bank

Sep 16, 2016 at 8:37 AM
facebook twitter linkedin

It was a relatively quiet day of trading in Asia, with public holidays shuttering markets in China, Hong Kong, and South Korea. However, Japan's Nikkei was open for business, and bounced back nicely from Thursday's yen-induced dive. Specifically, the index tacked on 0.7% as shares of Apple Inc. (NASDAQ:AAPL) suppliers rallied. Also serving to boost markets was a rebound in bank stocks, as comments from the chair of the Japanese Bankers Association curbed expectations that the Bank of Japan will cut interest rates on excess reserves further into negative territory at next week's policy meeting.

Stocks in Europe are selling off, as financial stocks slide in the wake of a $14 billion fine levied against German-based Deutsche Bank by the U.S. Department of Justice. Markets also remain on edge ahead of the Fed's policy meeting next week, which could bring the first interest rate hike since December. At last check, London's FTSE 100 is off 0.5%, the French CAC 40 has stepped back 1.2%, and Germany's DAX has dropped 1.4%.

overseas trading september 16

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox. 


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial


Special Offers from Schaeffer's Trading Partners