3/24, 5:35 PM (Source: TeleTrader)
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Europe slumps at close as banking crisis clutches markets

Major stock indexes in Europe tumbled at the close on Friday, as investors seemingly failed to shake off worries related to the financial sector crisis and its possible spillovers. Traders remained on high alert despite European officials reassuring the public that there should be no issues in keeping the matter under control.

The DAX slid 1.66% or 253 points at the closing bell, with Deutsche Bank dragging the index down by 8.53%. Simultaneously, the CAC 40 plunged 1.74%, as Societe Generale lost 5.93%. At the close, the FTSE 100 tumbled 1.26%, with Standard Chartered down 6.42%. The Euro Stoxx 50 finished off with a 1.82% loss, as BNP Paribas fell 5.27%

The euro was 0.70% below the dollar at 5:33 pm CET, selling for 1.07568. The pound traded 0.52% lower against the greenback to go for 1.22227 at the same time.

Baha Breaking News (BBN) / AY