A severe downturn in the US commercial real estate property sector has already sent some banks in New York and Japan into full-blown crash mode because of their high CRE exposure. This turmoil is now beginning to affect European banks as well.

Is the US CRE turmoil triggering the beginnings of another global banking crisis? If so, banks with high exposure to CRE loans could fall like dominoes.

https://www.zerohedge.com/markets/dominoes-us-cre-downturn-sends-german-lender-turmoil