Deutsche Bank warns of $6.4 billion loss

"In an unscheduled statement, Germany's largest listed bank said "exceptional market conditions" severely hurt its sales and trading operations. It also faces losses from its efforts to slash exposure to risky assets.

For the year, Deutsche Bank expects to report a loss of about 3.9 billion euros. The bank reported a net profit of 6.5 billion euros for 2007, including earnings of 1 billion euros in the fourth quarter."