Bank shares led losses in Europe and the US
markets on Thursday, amid talk of more lay-offs and cutbacks planned by
Europe's major lenders as they struggle with zero rates.
US S&P 500 Index lost 1.2 percent, with
financial shares falling 1.9 percent. In Europe, the FTSEurofirst 300 closed
down 0.8 percent, hurt by a drop of more than 2 percent in financials.
"When bank shares are making big falls and their CDS spreads are rising
like this, obviously you would think something is afoot.
If they keep falling in today's session, that
is going to be really worrying," said Daisuke Uno, chief strategist at
Sumitomo Mitsui Bank.
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