LONDON (Reuters) – Euro zone bank stocks fell sharply on Monday and were set for their worst day in two years as U.S. and Europe mulled a Russian oil import ban triggering more economic growth concerns while raising the prospect of even higher inflation.
The euro zone bank index tumbled to a 13-month low and was on track for its worst day since March 2020, down 9.5% at 0855 GMT.
Shares in UniCredit, Commerzbank, Deutsche Bank, Raiffeisen, Bank of Ireland and Societe Generale all fell more than 10%.
The index has shed 37% in less than one month, after climbing to its highest since 2018 in February.
(Reporting by Joice Alves; Editing by Saikat Chatterjee)
