Europe’s bank index has posted its longest weekly string of losses since 2008.
European banks have been caught in a perfect storm of market turmoil, lately.
Lackluster profits and negative interest rates, have prompted investors to dump shares in the sector that was touted as one of the best investment ideas just a few months ago.
The region’s banking gauge, the Stoxx Europe 600 Banks Index FX7, -4.48% has logged six straight weeks of declines, its longest weekly losing stretch since 2008, when banks booked 10 weeks of losses, beginning in May, according to FactSet data.
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WNU Editor: I am the first to admit that I am not an expert on these matters, even though I am optimistic that we will not experience a repeat of 2008. But being one who lived through the Russian banking-financial crisis in the early 1990s, I can only give the following advice. "Expect and prepare for the worst, be happy if it does not happen".
More News On Worries That Another Banking - Financial Crisis Is Developing
Is Another European Bank Crisis Starting? -- Peter Tchir, Forbes
Deutsche Bank is at a record low and investors are once again scared of European banks -- Business Insider
Deutsche Bank AG: More Turmoil for European Banks -- BFN
Greek stock market falls sharply on banking sector meltdown -- AFP
Russia shuts down two more banks -- AFP
Bank of Japan, in a Surprise, Adopts Negative Interest Rate -- NYT
Mid-tier Chinese banks piling up trillions of dollars in shadow loans -- Reuters
Emerging-Market Central Banks Battle Capital Flight -- WSJ
Is there a banking crisis in the United States? -- CNBC
Banking's Reservoir Dogs -- Lionel Laurent, Bloomberg
Bank investors have suffered two lost decades -- CNBC
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