29-Aug (MarketWatch) — U.S. stocks tumbled Thursday after two straight days of gains as investors appeared to shift from a focus on a preliminary agreement on oil output to worries about European bank contagion and talk of a December rate increase by the Federal Reserve.
Investors were following embattled Deutsche Bank, which is among Europe’s largest banks and buffeted by concerns about the health of its balance sheet, specifically its ability to withstand a potential $14 billion fine from the U.S. Justice Department. Deutsche Bank’s U.S.-listed shares DB, -7.15% were trading off sharply in recent trade.
