EU Bank Stocks Experience Significant Drop Amid US Tariff Announcements

The financial markets worldwide faced a severe downturn on Monday, with European banking stocks at the forefront of the crisis. The latest imposition of tariffs by the United States has sent shockwaves through the global economy, leading to a sharp decline in stock values.

Key indices affected: By 9:28 am CET, the Euro Stoxx Banks Index (SX7E) had fallen by 4.68% to €156.89, and the STOXX Europe 600 Banks Index dropped 5.29% to €214.67.

Major Banks Hit Hardest

Among the most affected, Commerzbank saw an 11% plunge, Societe Generale dropped 10%, and Barclays slid 9%. Deutsche Bank and Banco Santander both fell by 8%, while ING Groep and BBVA each lost 7%. HSBC was down 6%, reflecting investor concerns over a potential prolonged economic slowdown due to escalating trade tensions.