Why European Bank Stocks Cratered Today
At approximately 10 p.m. ET last night, Russian military forces launched an all-out assault on their neighbor Ukraine. Russian stocks are plummeting -- but not only Russian stocks. Three big European banks also saw their stock prices crash this morning.
As of 10:45 a.m. ET, shares of:
For a few reasons, these declines make sense. Stock markets are understandably nervous today, with both the S&P 500 and the Dow down more than 1%. And presumably, the closer you are to Russian tanks, the more nervous you're feeling right now. ING, Deutsche, and Lloyds are European banks, so it makes sense that investors in these three bank stocks in particular would be worried.
Source Fool.com
