euromoney

Wednesday, 10 August 2011

European bank stocks suffered yet another steep selloff Wednesday, with a major French bank at one point plunging more than 20%,

European bank stocks suffered yet another steep selloff Wednesday, with a major French bank at one point plunging more than 20%, as investors were spooked by the combination of false rumors and mounting evidence of slowing Western economies.At least 11 major European banks saw their shares fall 8% or more, an ominous sign for a sector whose stocks tend to trade in relatively narrow bands except in times of crisis.The biggest decliners were the French banks, with shares of Société Générale SA ending down 15%, Crédit Agricole SA falling 12% and BNP...

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