European shares of Deutsche Bank extended its share price decline to 10%; Deutsche Bank’s U.S. shares fell more than 6% in the pre-market.

German PMI (manufacturing index) has been going down since three years, on the one hand by the higher oil prices leading to rising costs, one side is affected by the industrial structure: for example, the German traditional automobile industry, and new energy vehicle industry competition accounted for the lower peak (such as the German new energy obviously sales less than Tesla or BYD), as well as the machinery industry industry decline cycle.