EU Bank Stocks Experience Sharp Decline Amid US Tariff Announcements

The financial markets worldwide faced significant turmoil on Monday following the latest US tariff impositions, leading to a dramatic fall in Europe's banking sector shares. By 9:28 am CET, the Euro Stoxx Banks Index (SX7E) had decreased by 4.68% to €156.89, with the broader STOXX Europe 600 Banks Index witnessing a 5.29% drop to €214.67.

Major Banks Hit Hard by Market Panic

Among the most affected, Commerzbank saw an 11% plunge, while Societe Generale and Barclays dropped by 10% and 9%, respectively. Deutsche Bank and Banco Santander both fell by 8%, with ING Groep and BBVA each losing 7%. HSBC was not spared, falling 6% as investors grappled with fears of a prolonged economic slowdown due to escalating trade tensions.