European shares tumble as banks slump, Fed uncertainty weighs

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Reuters UK

By Susan Mathew and Medha Singh (Reuters) – European shares tumbled to a more than one-month low on Friday on uncertainty around U.S. monetary tightening, with financial stocks sinking 4.2% after a warning from a U.S. bank spurred worries about stress in the sector. The pan-European STOXX 600 index fell 1.7% on broad-based losses, with HSBC, Deutsche Bank, Barclays, Unicredit and Commerzbank down between 2.7% and 7.2%. The European banking index hit a six-week low after U.S. tech-industry lender SVB Financial Group launched a share sale to shore up its balance sheet due to declining deposits f…

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