2016.09.3005:27:00UTC+00Deutsche Bank Shares Hits Record Lows in European Trading

Shares of Deutsche Bank sank to record lows as European trading session began on Friday, as confidence in the embattled bank's financial stability continues to waver amid concerns following a proposed settlement by the U.S. government and reports that some hedge funds were cutting down their exposure to the lender.

The German bank's European-listed shares fell 8% and traded close to 10 euros per share on Friday morning, a record low.

The most recent decline follows reports that hedge funds are starting to pull business from the lender and have taken steps to limit their exposure to the bank. Deutsche Bank expressed its confidence that most clients recognize its stability.

The share price rout in Europe comes after Wall Street closed significantly lower on Thursday as concerns over Deutsche Bank pulled down benchmark indexes. The Bank's U.S.-listed shares hit an all-time low on Thursday and pulled down the overall financial sector.