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;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.