EU Bank Stocks Experience Sharp Decline

The financial markets worldwide faced a severe downturn on Monday, with Europe's banking sector taking a significant hit. The latest imposition of US tariffs has sparked widespread panic among investors, leading to a dramatic drop in bank stocks across the continent.

Market Indices Show Significant Losses

By 9:28 am CET, the Euro Stoxx Banks Index (SX7E) had fallen by 4.68% to €156.89, while the STOXX Europe 600 Banks Index saw a more substantial decrease of 5.29%, landing at €214.67.

Major Banks Among the Hardest Hit

Leading the decline, Commerzbank's shares plummeted by 11%, with Societe Generale and Barclays not far behind, dropping 10% and 9% respectively. Deutsche Bank and Banco Santander both experienced an 8% fall, while ING Groep and BBVA each lost 7%. HSBC also felt the impact, with a 6% decrease, as fears of a prolonged economic slowdown due to escalating trade tensions took hold among investors.