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European banks shares extend losses amid tariff selloff.

stock :: 2025-04-04 :: source - reuters

By Reuters

The logo of BPER Banca is pictured outside a branch as the bank's CEO Piero Montani presents a new business plan, in Milan, Italy. REUTERS/Flavio Lo Scalzo/File Photo

(Reuters) -Shares in European lenders extended losses on Friday amid a deep selloff in equities sparked by U.S. President Donald Trump's sweeping tariffs.

A basket of the region's banks (.SX7P) was down 3.3% to its lowest since early February at 0710 GMT after falling 5.5% on Thursday. Losses over the past two trading days hit 8.5%, the most for this period in three years.

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Italy's BPER Banca, Germany's Deutsche Bank (DBKGn.DE), Spain's Sabadell (SABE.MC) were leading losses, all down around 4.3%.

Banking stocks elsewhere tanked overnight, with shares in many large Wall Street institutions, such as Goldman Sachs (GS.N), Morgan Stanley (MS.N) and JPMorgan (JPM.N) falling between 7-9%, marking their largest daily declines since 2020.

An index of financial shares in Japan fell by as much as 11% at one point on Friday (.IBNKS.T).

(Reporting by Anna Pruchnicka; Editing by Amanda Cooper)

Reuters report


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