The collapse of U.S.-based Silicon Valley Bank, the biggest bank failure since the global financial crisis, and the emergency rescue of Credit Suisse by Swiss rival UBS, sparked a sell-off in banking stocks as contagion fears spread.
Deutsche Bank was the next target, with shares plunging and the cost of insuring against its default spiking at the end of last week — despite the German lender’s strong capital and liquidity positions.
Source : Analysts say it’s ‘sentiment contagion,’ not another banking crisis