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Europe’s Bank Stocks Take a Battering on ‘Doom Loop’

  • Prospect of stronger mandate for populists shakes markets
  • Contagion concern ripples through Spanish, Portuguese banks
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Oasis Management Sees Correction Coming in Italian Bond Market

Updated on

Europe’s bank stocks took a beating Tuesday as Italy’s political woes shone a harsh light on the region’s failure to resolve the structural tensions that caused the debt crisis earlier this decade.

Trading in Italy’s largest banks, Intesa Sanpaolo SpA and UniCredit SpA, was suspended temporarily after both fell 5 percent. After resuming, both recovered slightly and have now lost over 20 percent in the past month.