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European banking shares drop after Credit Suisse and Nomura reveal losses after US hedge fund stock firesale
16 days ago | By Business Insider
Summary List Placement Banks were among the worst performing sectors of the stock market in Europe on Monday, after Credit Suisse said it had racked up undisclosed losses relating to a US hedge fund's mass-liquidation of stocks on Friday that has rattled investors around the globe.
Japanese bank Nomura also said it faced "significant loss" of potentially $2 billion due to transactions with an unnamed US client, stripping 16% off its shares by the close of business on Monday.
Shares in Credit Suisse , one of the largest banks in Europe, fell to their lowest since November, and were last...
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