World's Biggest Banks Sink to Record Lows as China Pain Spreads
- China’s big four lenders sink to lowest-ever valuations
- Concern is growing they’ll be asked to help smaller peers
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Stock investors have never been so downbeat on the world’s biggest banks.
China’s “big four” state-owned lenders, which together control more than $14 trillion of assets, tumbled to record-low valuations on Monday amid mounting concern that Beijing will encourage them to bail out smaller peers. Industrial & Commercial Bank of China Ltd., the world’s largest lender by assets, lost $11 billion of market value last week after injecting capital into a troubled regional bank as part of a government-orchestrated rescue.