US Close 27 Sep 16: Deutsche Bank slumps to record low; participants await debate

US share markets fell on Monday. But the energy sector was supported by a 3 per cent plus lift in oil prices. The Dow Jones index fell by 167 points or 0.9% with the S&P 500 index also lower by 0.9% while the Nasdaq fell by 48 points or 0.9%.European shares fell on Monday, dragged lower by weakness in the banking sector. Shares in Deutsche Bank fell by 7.5% on media reports that the Chancellor Angela Merkel has ruled out any assistance to the Bank in its dispute with the US Department of Justice which is demanding US$14 billion in fines. The broad pan‑European STOXX 600 index fell by 1.6%. The STOXX Europe 600 Banking index fell by 2.3%. The German Dax was down by 2.2% with the UK FTSE lower by 1.3%. In London trade, shares in BHP Billiton fell by 0.4% while Rio Tinto lost 1.4%.

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