US regional banks fall as China retaliates to Trump's tariffs

Shares of U.S. regional banks down premarket amid a global stock rout prompted by China's retaliation to President Donald Trump's reciprocal tariffs

Regional banks such as Fifth Third Bancorp FITB.O, M&T Bank MTB.N, Keycorp KEY.N and Comerica CMA.N fall; Western Alliance WAL.N leads declines with a ~6.2% fall

U.S. stock futures are down after China retaliated by slapping additional tariffs of 34% on U.S. goods, the most serious escalation in a trade war with Trump

JPMorgan Chase said it now sees a 60% chance of the global economy entering recession by year-end, up from 40% previously