European banks fall further after China's additional tariffs of 84% on US goods

AL Sydbank A/S

09/04/2025 12:44

Updates throughout

** European banks extend losses after China said it would impose additional tariffs of 84% on U.S. goods as a retaliation against President Donald Trump's 104% levies on China

** The STOXX 600 banks index .SX7P falls 3.9%, among the worst performers on the wider STOXX 600 .STOXX which is also down 3.9%

** "We're particularly concerned about how these tariffs might affect banks' credit quality, especially in a slower growth environment," Johann Scholtz from Morningstar says

** "The future of interest rates remains uncertain, but the likelihood of rate cuts has increased," Scholtz notes, adding this could negatively impact net interest margins

** Asia-exposed Standard Chartered STAN.L, HSBC HSBA.L are down around 5%

** Germany's Commerzbank CBKG.DE, Deutsche Pfandbriefbank PBBG.DE, Deutsche Bank DBKGn.DE and Switzerland's UBS UBSG.S slide between 1.7% and 4.5%

** France's Credit Agricole CAGR.PA, Societe Generale SOGN.PA, BNP Paribas BNPP.PA fall 2.3%-3.9%

** Spain's Bankinter BKT.MC, Caixabank CABK.MC, Santander SAN.MC and Sabadell SABE.MC down between 2.5% and 3.5%

** Denmark's Jyske Bank JYSK.CO, Sydbank SYDB.CO, Danske Bank DANSKE.CO fall 2.5%-4.8%

 (Reporting by Ozan Ergenay)

 ((ozan.ergenay@thomsonreuters.com))