European banks extend losses as Middle East conflict escalates

Shares in European banks extend their losses for a second day, as the Middle-Eastern conflict escalates and Iran vows to close the Strait of Hormuz

The STOXX 600 banks index .SX7P fall 3.6% and is among the worst performers of sectoral indices on the pan-European STOXX 600 .STOXX index, which is down 2.6%

Commerzbank CBKG.DE, UBS UBSG.S, and Deutsche Bank DBKGn.DE fall around 3.9%, as Erste Group ERST.VI, Deutsche Pfandbriefbank PBBG.DE and Julius Baer BAER.S are down between 3% and 4.4%

Credit Agricole CRAP.PA, Unicredit CRDI.MI and Societe Generale SOGN.PA fall between 3.6% and 4.8%, as ING INGA.AS, Standard Chartered STAN.L, HSBC HSBA.L and Barclays BARC.L are down between 3.3% and 3.7%

Bankinter BKT.MC, Banco de Sabadell SABE.MC, BBVA BBVA.MC, BPER Banca EMII.MI and Banco Santander SAN.MC fall between 3% and 5%