Shares in European lenders tumbled in early trading on Monday as investor fears mounted over the possibility that the United States could be heading for recession, after surprisingly weak employment data on Friday.
The region-wide banking index (.SX7P), opens new tab shed some 4.4%, hitting its lowest since March.
Shares of Italy’s UniCredit (CRDI.MI), opens new tab, Intesa (ISP.MI), opens new tab and Germany’s Deutsche Bank (DBKGn.DE), opens new tab were all down around 6%. Barclays (BARC.L), opens new tab dropped 5.4%, while Spain’s Sabadell (SABE.MC), opens new tab was down 4.9%.
Source: REUTER
