Europe Stocks Deepen Rout as Societe Generale Leads Bank Selloff
- Lenders post their biggest one-day plunge since August 2011
- Randgold, Fresnillo rally as precious metals advance
What's the Heart of the Problem in European Banks?
This article is for subscribers only.
The relief rally that swept through Europe’s stock markets Wednesday came to an abrupt halt, as shares slid for the eighth time in nine days and hit their lowest levels since September 2013.
The Stoxx Europe 600 Index lost 3.7 percent, the most since August, with more than 570 of its shares slumping. Financial results that fell below projections at Societe Generale SA, Rio Tinto Group and Zurich Insurance Group AG added to growing concern that central banks are powerless to stem a slowdown in the global economy. A slide in energy producers deepened as oil fell further.