European bank shares plunge as market selloff deepens following US tariffs
Shares in European lenders continued to decline on Friday, following a sharp selloff in global equities triggered by U.S. President Donald Trump’s sweeping tariffs.
A basket of the region's banks was down 3.3% to its lowest since early February at 0710 GMT after falling 5.5% on Thursday. Losses over the past two trading days hit 8.5%, the most for this period in three years, News.Az reports, citing Reuters.
Italy's BPER Banca, Germany's Deutsche Bank, Spain's Sabadell were leading losses, all down around 4.3%.
Banking stocks elsewhere tanked overnight, with shares in many large Wall Street institutions, such as Goldman Sachs, Morgan Stanley and JPMorgan falling between 7-9%, marking their largest daily declines since 2020.
An index of financial shares in Japan fell by as much as 11% at one point on Friday.
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