European banks extend losses on US tariffs, recession fears

European banks fall for a second day as U.S. President Donald Trump's sweeping tariffs ignited fears of an all-out trade war and a global economic recession

The STOXX 600 banks index .SX7P is down 3.2%, the biggest decliner on the broader STOXX 600 .STOXX index

Asia-exposed HSBC HSBA.L, Standard Chartered STAN.L are down 2.8% and 4%, respectively

Germany's Commerzbank CBKG.DE and Deutsche Bank DBKGn.DE slip 2.9%-4%, while Switzerland's UBS UBSG.S and France's Credit Agricole CAGR.PA, Societe Generale SOGN.PA, BNP Paribas BNPP.PA fall 2.6%-2.9%

Spain's Santander SAN.MC, Bankinter BKT.MC, Caixabank CABK.MC and Sabadell SABE.MC are down between 3.2% and 4.4%

Denmark's Danske Bank DANSKE.CO, Jyske Bank JYSK.CO and Sydbank SYDB.CO fall 3%-5%

Deutsche Bank and UBS hit the bottom of Germany's blue-chip index .GDAXI and Switzerland's blue-chip index .SSMI, respectively