Gundlach says stay away from Deutsche Bank shares: report

Investors should stay away from shares of Deutsche Bank and remain defensive in financial markets, Doubleline Capital founder Jeffrey Gundlach said Thursday, according to Reuters. Gundlach told the news service that it doesn't feel like the selloff is over and that the market will push down Deutsche Bank shares "until there is some recognition of support." Deutsche Bank's U.S.-listed shares tumbled Thursday after Bloomberg reported that around 10 of the lender's derivatives-clearing clients had removed excess cash and positions. Deutsche Bank shares are down more than 50% since the end of last year as the firm struggles to shore up its thin capital cushion.

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