European bank stocks slide after money-laundering allegations; Dow futures slide 400 points

Shares of Europe’s top banks dropped on Monday, after the publication of reports alleging they kept doing business with customers they suspected of money laundering and other wrongdoing.

Deutsche Bank DBK, -8.39%, Standard Chartered STAN, -5.37%, Barclays BARC, -7.45%, Commerzbank CBK, -5.48%, Danske Bank DANSKE, -3.74% and HSBC Holdings HSBA, -6.03% were all named in the report, as were several U.S. banks. Deutsche Bank accounted for a majority of the suspicious activity reports in the BuzzFeed trove.

U.S. stock futures ES00, -1.56% fell, with futures on the Dow Jones Industrial Average YM00, -1.96% losing 449 points. Last week, the technology heavy Nasdaq Composite COMP, -1.07% fell 0.6%, while energy and industrial stocks rose. “The fight between the President and Congressional Democrats on whether to fill the vacant seat now or wait until after the election is expected to lead to more delays in reaching a middle ground on a new fiscal package. Hence, we would expect that the much-needed stimulus will be pushed back until after the U.S. elections,” said Hussein Sayed, chief market strategist at FXTM.

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Global stocks slide as France, Spain, and the UK record thousands of new COVID-19 cases | Markets InsiderTraders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 29, 2019. Brendan McDermid/Reuters Global stocks fell o... Are you NEW to FOREX? Minimize your losses with my expert strategy with an investment capital of $1000, i can guarantee $9,500 as profits after 5 days of investment. Inbox me if interested. No vaccine what did they expect Europe getting hit hard on bank issues and COVID getting worse. FTSE 100 down big. 96 losers. IAG -12% and Rolls-Royce still under pressure -11%. Ugly day across the board. moneylaundering coronavirus
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European bank shares tumble after leaked files unveil suspicious money flows worth over $2 trillion | Markets InsiderFRANKFURT, GERMANY - MAY 18: Shareholders walk past a huge Deutsche Bank logo during the banks annual shareholders meeting on May 18, 2005 in Fr... Ahem: 'The banks that had the highest reported amounts of suspicious activity: JPMorgan, Standard Chartered, Barclays, Deutsche Bank and BNY Mellon. Deutsche Bank accounted for the most transactions with $1.3 trillion passed between 1999 and 2017, Deutsche Welle reported.' Noted.
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