Updates with market open, recasts 1st paragraph with wider sector move
April 7 (Reuters) - An index of European banking <.SX7P shares fell 4.8% on Monday, falling more than 20% from recent closing high and leaving it on course to confirm it is in a bear market.
The decline extended into a third day as U.S. President Donald Trump's sweeping tariffs ignited fears of an all-out trade war and a global economic recession.
Together with the losses over the past two trading days, the index had fallen by more than 18% on Monday.
Germany's Commerzbank CBKG.DE, Deutsche Bank DBKGn.DE, France's Credit Agricole CAGR.PA, Societe Generale SOGN.PA, BNP Paribas BNPP.PA were all down between 9% and 10%.
Britain's Barclays BARC.L was down 9%, HSBC HSBA.L dropped around 5%.
Banking stocks elsewhere also tanked, with an index of Japanese bank stocks plunging as much as 17%.
(Reporting by Anastasiia Kozlova, Anna Pruchnicka, editing by Alun John and Amanda Cooper)
((anna.pruchnicka@thomsonreuters.com; +48 58 769 65 14;))
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