off-the-wire

European bank shares tumble day after U.S. market turmoil

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, March 10 (Reuters) - European banking stocks headed for their largest one-day fall in nine months on Friday, a day after a sharp sell-off in U.S. banks.


Europe's STOXX banking index fell 4.2%, set for its biggest one-day slide since early June, with declines for most major names including HSBC down 4.5% and Deutsche Bank down 7.9%.


S&P 500's bank index finished down 6.6% on Thursday after tech-industry lender SVB Financial Group launched a share sale to shore up its balance sheet due to declining deposits from startups struggling for funding.
(Reporting by Alun John; Editing by Amanda Cooper)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.