Global investment banking stocks fell on average 10.4% year-to-date as of Wednesday's close. U.S.-based J.P. Morgan was the only company in the black, at 1.3%. The European cohort of the group saw the steepest declines, with Deutsche Bank dropping 37.6%. The U.S.-based components of the index fell 4.4% during the period.
Deutsche Bank has been hit by declining revenue across all major business segments and announced headcount reductions among its investment bank, trading and equity units. The Federal Deposit Insurance Corp. compounded the bank's woes on Thursday after adding it to its list of troubled lenders.
2018 performance across the industry has been a sharp contrast to 2017, when many of the constituents had double-digit returns.