BANKS CLOWN-HAMMERED IN EUROPE

Welcome to September, officially.

The winds are brisk and futures are tumbling. Over in Euroland, stocks are getting their faced kicked in. Collectively, they’re down around 2%, with the Italians ‘enjoying’ the brunt of the sell off.

Leading the charge lower are the banks.

Unicredit -5%
Soc Gen -3.6%
Santader -3.5%
AXA -3.5%
Deutsche Bank -3.5%
Credit Suisse -3.3%
Lloyds -4%
Standard Chartered -4%

It’s worth mentioning, commodity related names are getting poleaxed too, with heavy losses found in E.on,BHP, Rio and Glencore.