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Deutsche Bank, JPMorgan lead drop in financial shares amid report the banks moved suspicious funds

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A Deutsche Bank AG flag flies outside the company’s office on Wall Street in New York.

Mark Kauzlarich | Bloomberg | Getty Images

Financial stocks came under pressure on Monday amid a report that a number of global banks moved allegedly illicit funds over the past two decades despite warnings from U.S. officials.

Shares of Deutsche Bank dropped nearly 8%, while JPMorgan fell almost 5% in premarket trading. Goldman Sachs, Citigroup and Bank of New York Mellon¬†all traded at least 2.5% lower. The sell-off was triggered by a new investigation by BuzzFeed and the International Consortium of Investigative Journalists (ICIJ) that found the banks’¬†internal compliance officers flagged a total of…

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Source cnbc.com

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