Europe's Banks Lose Best-Performing Sector Crown on Growth Woes
Banks are no longer the best-performing sector in Europe this year as US President Donald Trump's trade tariffs raise recession concerns.
The Stoxx 600 Banks Index fell as much as 10% on Friday, its biggest drop since March 2020, as Societe Generale SA, UniCredit SpA, Banco Santander SA and BNP Paribas SA sank. Lenders have been replaced at the top of the rankings year-to-date by utilities, which gained as investors looked for defensive assets after the US imposed 20% reciprocal duties on the European Union.
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42 minutes ago
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Bloomberg
2 hours ago
- Bloomberg
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