European stock markets collapse, dragged down by banking – Yahoo Finance Spain

European shares tumbled on Monday, weighed down by the banking sector and lingering concerns over the global economy

To. 13h50 GMT the losses came to 3.58% in Frankfurt, 4.59% in Milan and 6.91% in Athens, where the index of banking stocks almost sank 20%.

the FTSE-100 index in London restricted the fall to 1.93%, while the CAC-40 in Paris was down 2.42% and the Ibex-35 in Madrid, 2.80%, after be registered in both cases falls more than 3%

the same trend occurred in the opening of Wall Street, where the Dow Jones index fell 0.63% and the Nasdaq (NasdaqGS:. NDAQ – news ) 1.67%.

sessions in Europe had begun with gains, but the trend changed after oil trading back down after a brief break from his endless fall.

the values ​​are immediately found among the hardest hit, but the debacle then spread to many sectors.

“the European markets opened higher, but were dragged down by banking stocks , some of which touched its lowest in many years, “said Michael Hewson, chief market analyst at brokerage CMC markets UK. “The (recent) disappointing results in the sector, from large establishments in the United States by Credit Suisse (London: 0QP5.L – news) and Deutsche Bank (Other OTC: DBAGF – news) in Europe, along the spectrum of interest rates negative, it prompted investors to reassess their chances of gains, “he said

Among the hardest hit were HSBC (-2.77%), Commerzbank (Amsterdam: CM6.AS – news). (- 6.25%) and BNP (Paris:. FR0000131104 – news) -Paribas (4.38%)

investors also remain hesitant about the state of the world economy and question policy rates the Federal Reserve (FED), following the publication on Friday of a report on employment in the United States. Such data could “revive speculation about a further increase in rates at the next Fed meeting on 15 and 16 March, at a time when many investors opt for maintaining the ‘status quo’ because of mixed results companies have been published, “say analysts at Barclays Bourse in Paris.

the first global economy created fewer jobs in January than expected, while the unemployment rate fell to 4.9%, its lowest level in eight years.

Another major concern for investors remains the slowing Chinese economy, although the giant Asian markets are closed this week because of the Lunar New Year celebrations .