Why Is Coronavirus Fear Hitting the Banks?
Fiona Cincotta March 6, 2020 2:51 PM
Euro Stoxx banks is down 24% since since coronavirus outbreak began.
Whilst with some stocks such as travel and tourism stocks it is simple to understand why they are falling so sharply with increasing coronavirus restrictions. With tech stocks - they are experiencing a massive supply chain disruption, again it is simple to understand why they are falling. Precious metal miners are also experiencing solid sessions despite the stock markets around them falling off the proverbial cliff.
On the CaC the worst performing stocks have been Credit Agricole, BNP Paribas and Société Generale. Italy’s Banco BPM has dropped 23% whilst Deutsche Bank is down 34% from its recent 2020 highs.
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