European Bank Stocks Plunge, Risk Sentiment Weakens in US and European Markets

According to Gate market data, Deutsche Bank strategists noted that widening bond spreads and rising inflation concerns are weighing on risk assets. The STOXX 600 index fell 1%, France's CAC 40 dropped 1.22%, Italy's FTSE MIB declined 2.51%, and European bank stocks fell 3.38%. The S&P 500 slipped 0.22%, with industrial and materials stocks down 2.14% and 1.53%, respectively. The Nasdaq and the Magnificent Seven tech stocks each fell 0.22% and 0.2%, while the Russell 2000 declined 1.31%.