European banks face biggest drop since April tariff shock after Middle East conflict

Banco Bilbao Vizcaya Argentaria SA

02/03/2026 09:43

** Shares in European banks set for their biggest daily drop since April 2025 tariff shock after the U.S.-Iran conflict and the closure of the Strait of Hormuz roiled global markets

** The STOXX 600 banks index .SX7P falls 3.7% and is among the worst performers of sectoral indices on the pan-European STOXX 600 .STOXX index

** Commerzbank CBKG.DE, BNP Paribas BNPP.PA, UBS UBSG.S, Julius Baer BAER.S and Societe Generale SOGN.PA are down between 2.2% and 3%

** ING Groep INGA.AS, BBVA BBVA.MC, Banco de Sabadell SABE.MC, Deutsche Pfandbriefbank PBBG.DE and Unicredit CRDI.MI fall between 3% and 4%

** HSBC HSBA.L, Standard Chartered STAN.L, BPER Banca EMII.MI, Raiffeisen Bank RBIV.VI and Barclays BARC.L are down between 3.8% and 5%

 (Reporting by Ozan Ergenay)

 ((ozan.ergenay@thomsonreuters.com))