European banks extend losses amid tariff selloff

(Reuters) -Shares in European lenders extended losses on Friday amid a deep selloff in equities sparked by U.S. President Donald Trump's sweeping tariffs.

A basket of the region's banks was down 3.3% to its lowest since early February at 0710 GMT after falling 5.5% on Thursday. Losses over the past two trading days hit 8.5%, the most for this period in three years.

Italy's BPER Banca, Germany's Deutsche Bank, Spain's Sabadell were leading losses, all down around 4.3%.

Banking stocks elsewhere tanked overnight, with shares in many large Wall Street institutions, such as Goldman Sachs, Morgan Stanley and JPMorgan falling between 7-9%, marking their largest daily declines since 2020.

An index of financial shares in Japan fell by as much as 11% at one point on Friday.

(Reporting by Anna Pruchnicka; Editing by Amanda Cooper)

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