European stock markets crashed while trading on March 13 amid the US banking crisis. It has been reported CNBC.
It was recorded that the pan-European Stoxx 600 index decreased to 440.8 points (-2.86%) at the bottom point, while the UK and European FTSE 100 index decreased to 7549.7 points (-2.5%). The German stock index DAX was 14,988 points (-2.88%).
In addition, shares of Europe’s largest banks fell significantly, including Deutsche Bank, whose quota on the XETRA exchange fell 7.84% to €9.83 per share. UniCredit shares on the Italian Stock Exchange fell 7.75% to 17.18 euros.
Earlier, UK Finance Minister Jeremy Hunt said the country’s banking system was “extremely stable”. so he commented The consequences of the bankruptcy of the SVB bank in the USA, known as the Silicon Valley bank.