Investing.com -- European banking shares, as tracked by the Stoxx 600 Banks index, dropped 8.4% on Monday, marking a decline of over 20% from their recent peak — a move that signals entry into bear market territory.
This marked the third consecutive day of losses, triggered by escalating concerns over a potential global recession and trade war following aggressive tariff measures announced by U.S. President Donald Trump.
Including the losses from the previous two sessions, the index had tumbled more than 18% by Monday.
At 04:04 ET (08:04 GMT), Germany’s Commerzbank (ETR:CBKG) dropped 7.8%, while Deutsche Bank (ETR:DBKGn) declined 6.5%. In France, Societe Generale (OTC:SCGLY) fell 7.1%, Credit Agricole (OTC:CRARY) slid 5.3%, and BNP Paribas (OTC:BNPQY) was down 5.8%.
In the UK, Barclays PLC (LON:BARC) saw a decline of 7.9%, and HSBC (LON:HSBA) Holdings (NYSE:HSBC) PLC slipped 4.1%.