Deutsche Bank shocked the market by announcing huge write-downs late on Tuesday.
The investment bank says it expects a third-quarter loss of €6.2 billion ($US6.96 billion) and the board will recommend a cut to, and a possible elimination of, the dividend for the full year of 2015.
Analysts are divided on what the news means.
Some say this is Deutsche Bank’s new boss John Cryan “kitchen-sinking it” — throwing everything he’s got at the bank to fix its problems — while other believe this is the start of a painful multi-year process.
Here’s what banking analysts are saying about the unexpected news.