JUST IN – Trading halted for French banking group BNP Paribas after the stock plunged 8%.
— Disclose.tv (@disclosetv) March 15, 2023
European shares fell today as bank stocks resumed their selloff, after a short-lived bounce in the previous session, with Credit Suisse plunging to a fresh record low.
The pan-European STOXX 600 index fell 2.5%, languishing at 10-week lows, as was the banks sector index after plunging nearly 6%.
The bank index is set to lose more than €120 billion in market value since the close of March 8.
Spain’s and Italy’s lender-heavy indexes fell almost 4% each.
Shares of Credit Suisse fell below 2 Swiss francs after the lender’s biggest shareholder said it could not raise its 10% stake, citing regulatory issues.
The market regulator halted trading in the stock several times as volumes soared and the stock plummeted.
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