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London Markets: FTSE 100 slides as Deutsche Bank fears unsettle bank stocks

U.K. stocks dropped on Friday, with bank stocks hit hard by mounting fears about Deutsche Bank AG’s financial position.

The FTSE 100 UKX, -0.80% fell 1% to 6,852.13, after trading with losses of as much as 1.6% earlier in the day. No sector traded higher, and financial stocks were losing the most ground.

The sharp losses came as shares of Deutsche Bank AG DBK, +2.88%DB, -6.67%DBK, -4.55% dropped below 10 euros in Frankfurt for the first time ever on a report that a group of hedge funds were reducing their exposure to the financial major.

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