European stock benchmarks retreat over 3%

Monday, 21. September 2020 12:16

European stock market benchmarks plunged over 3% on Monday as worries over the growing second wave of the coronavirus pandemic continued to fuel a market selloff coupled with money-laundering allegations against global banks.

The banking sector led the losses following the report that alleged major lenders like Deutsche Bank and HSBC engaged in the transferring of illicit funds worth more than $2 trillion between 1999 and 2017.

The DAX dropped 3.33% to its lowest in a month at 12:12 pm CET. In Paris, the CAC 40 sank 3.23%, while the FTSE 100 tumbled 3.47%.

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