Economy

European bank shares fell after money laundering allegations; Dow futures down 400 points

Signatures for HSBC (L) and Standard Chartered Bank (R) will be displayed at the local headquarters of each bank in Hong Kong on April 28, 2020.

Anthony Wallace / Agencies France-Press / Getty Images

Shares of Europe’s top banks fell on Monday after reports emerged that they were continuing to trade with customers suspected of money laundering and other wrongdoing.

Report, Including BuzzFeed News and other media around the world It was based on so-called dubious operational statements filed by banks to the U.S. Treasury, which was collected for congressional investigators to watch President Donald Trump’s 2016 campaign. By law banks are not allowed to comment on the SARs they file.

Deutsche Bank DBK,
-6.36%,
Standard Chartered STAN,
-4.84%,
Barclays Park,
-6.46%,
Commerce Bank CPK,
-4.21%,
Donske Bank Donske,
-3.26%
And HSBC Holdings HSBA,
-5.19%
Like many American banks they are all named in the statement. Deutsche Bank contained most of the suspicious activity reports in Busfeet Drew.

Wide Stokes Europe 600 SXXP,
-2.32%
Fell 2.1%, while losses to HSBC proved to be an anchor in the FTSE 100 UKX,
-2.98%,
This is a decrease of 2.9%. German DAX DAX,
-2.61%
And French CAC 40×1,
-2.53%
Fell.

US stock futures ES00,
-1.57%
The Dow Jones Industrial Average fell with the futures on the YM00,
-1.82%
Lost 449 points. Last week, the tech-heavy Nasdaq Composite COMP,
-1.07%
Energy and industrial stocks rose 0.6%.

The death of Supreme Court Associate Judge Ruth Bader Ginsburg could have market repercussions as it is expected that there will be a fiercely competing candidacy war for him as an alternative to Washington D.C. At the end of September.

“The fight between the president and Congress Democrats over whether to fill the vacancy now or wait until after the election is expected to lead to further delays in reaching the middle ground in a new financial package. Therefore, we expect the much-needed stimulus to be pushed back after the US election,” the FXTM leadership said. Market strategist Hussein Saeed said.

In response to the new wave of corona virus cases, travel stocks in Europe have been under pressure to lock up the region. British Airways Owner International Airlines Group IAG,
-12.43%
And Ryanair Holdings RYA,
-6.54%
Fell sharply.

Shares of engine maker Rolls Royce RR,
-8.41%
The stock is down 9% after it said it was considering raising up to $ 2.5 billion in new share capital.

United Internet UTDI,
-23.78%
Shares fall 24% after Telefenica Deutschland O2D
-3.42%
It said in talks that it would raise total costs. United Internet says it has appealed to the European Commission over the issue.

Thelma Binder

"Explorer. Devoted travel specialist. Web expert. Organizer. Social media geek. Coffee enthusiast. Extreme troublemaker. Food trailblazer. Total bacon buff."

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