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Thursday, March 23, 2023

Panic at the opening of the stock markets: the European banking sector plunges in the wake of movements on the American market

The titles of German banks also plunged on the Frankfurt Stock Exchange, the title of Deutsche Bank losing nearly 10%, weighed down by the same concerns. At 08:22 GMT, the title of Deutsche Bank plunged 9.85%, while Commerzbank, Germany’s second bank, lost 6.12%, after the American banking group SVB Financial Group has announced measures to increase its liquidityafter customer withdrawals.

Overall, the Paris stock exchange lost 1.67% to 7,193.37, the Frankfurt Stock Exchange yielded 1.69%, and the London Stock Exchange 1.33%.

There Brussels Stock Exchange did not escape the general fall, the Bel 20 dropping 1.87% to 3,751.21 points. Sofina led the losses with a decline of about 7.5% for its share. The holding company also has interests in the US technology sector. The bank insurer KBC lost him, more than 4%. All stocks in the flagship index were trading in the red except for Argenx.

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