Wall Street falls; risk of Deutsche Bank fine hits Banks
US stocks fell on Friday as the possibility of a USD 14 billion fine against Deutsche Bank weighed on big banks and investors wrestled with lingering uncertainty about when the US Federal Reserve will hike interest rates.
The settlement proposal, made during negotiations between the US Department of Justice and Deutsche Bank over claims that the German bank missold mortgage-backed securities, was larger than expected. Deutsche Bank's US-listed shares slumped 9.35 percent. Dow components Goldman Sachs and JPMorgan fell over 1 percent each. The S&P 500 financial index dropped 0.91 percent, dragging down the benchmark index the most. The KBW Bank index fell 1.11 percent and logged its second straight week of declines.
US stocks fell on Friday as the possibility of a USD 14 billion fine against Deutsche Bank weighed on big banks and investors wrestled with lingering uncertainty about when the US Federal Reserve will hike interest rates. 
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