U.S. Markets open in 3 hrs 30 mins

Deutsche Bank Hits Fresh Record Low; CEO Sewing Vows 'Tough Cutbacks' at AGM

Martin Baccardax

shares hit a fresh record low Thursday as CEO Christian Sewing vowed t make "tough cutbacks" at the struggling lender during a speech to investors at the bank's annual general meeting in Frankfurt. It's also embroiled in a political tug-of-way between President Donald Trump and Democratic lawmakers in the House and Senate over his dealings with the bank and the possible connection to Russian interests leading up to the 2016 Presidential elections. Sewing, however, centered his address to shareholders on the bank's return to profitability, and turnaround efforts for its loss-making equities and prime brokerage divisions.