Global bank stocks sell off as fears mount over bad loans
LONDON – Nov. 5, 2020: Fog shrouds the Canary Wharf business district including global financial institutions Citigroup Inc., State Street Corp., Barclays Plc, HSBC Holdings Plc and the commercial office block No. 1 Canada Square.
Dan Kitwood | Getty Images News | Getty Images
Banking stocks across the globe sold off on Friday, as fears about bad U.S. loans spilled over into equity markets beyond the United States.
U.S. stock markets were rattled on Thursday amid mounting concerns about poor lending practices, after lenders Zions and Western Alliance disclosed bad loans.
Banking stocks were hit hard, with positive earnings reports in the sector unable to offset the apprehension. The concern builds on pre-existing unease over lending…
