By Fabio Benedetti Valentini
The plunge in European bank stocks over the past six months has wiped out about 400 billion euros ($434 billion) in market value, an amount that’s more than twice the annual economic output of Greece at current prices.
The STOXX Europe 600 Banks Index, grouping 46 lenders, dropped twice as
much as the region’s benchmark share index since late July. Banking stocks have fallen 14 percent in January alone, heading for their worst monthly performance since the depths of Europe’s sovereign-debt crisis in 2011. Deutsche Bank AG and Standard Chartered Plc are each down more than 40 percent since July.