Shares in German lenders continued their losses for a third day as U.S. President Donald Trump’s sweeping tariffs ignited fears of an all-out trade war and a global economic recession.
Germany’s Commerzbank and Deutsche Bank were down between 9.5 per cent-10.3 per cent in early Frankfurt trade, after they closed 5.4 per cent and 9.8 per cent lower on Friday.
Switzerland’s UBS was seen down 3.6 per cent in pre-market trade.
Banking stocks elsewhere also tanked, with an index of Japanese bank stocks plunging as much as 17 per cent.
HSBC’s Hong Kong shares plunged 14.7 per cent.
