Europe

Deutsche Bank drops further as Merkel gives no sign of help

Traders walk by the post where Deutsche Bank is traded on the floor of the New York Stock Exchange, Monday, Sept. 26, 2016. Shares in Deutsche Bank are down sharply after a report that the German government won't intervene with U.S. officials who are pressing the bank to pay $14 billion to settle an investigation into its sales of mortgage-backed securities. (AP Photo/Richard Drew)

Traders walk by the post where Deutsche Bank is traded on the floor of the New York Stock Exchange, Monday, Sept. 26, 2016. Shares in Deutsche Bank are down sharply after a report that the German government won't intervene with U.S. officials who are pressing the bank to pay $14 billion to settle an investigation into its sales of mortgage-backed securities. (AP Photo/Richard Drew)  (The Associated Press)

Deutsche Bank shares are down further after German Chancellor Angela Merkel gave no indication that her government might help the group with a U.S. demand for a $14 billion legal settlement.

Merkel told reporters in Berlin on Tuesday that "we naturally hope, even if there are temporary difficulties, that things will develop positively."

But she refused to say if she'd consider stepping in over the U.S. government's demand for a settlement in its investigation of the bank's sales of mortgage-backed securities.

Deutsche Bank shares fell another 2.9 percent to 10.22 euros and are off more than 50 percent for the year as the bank struggles with weak profits and investor concerns.

Deutsche Bank says it hasn't asked for help with the U.S. and isn't seeking a bailout.