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UK bank shares tumble on global recession fears

Reuters - UK Focus
Updated ·1-min read

LONDON, March 16 (Reuters) - UK bank shares took fresh tumbles on Monday after a slew of central bank actions failed to shore up investor confidence in the ability of policymakers to defend the global economy from global recession in the face of the coronavirus pandemic.

Shares in Britain's largest domestic lender Lloyds Banking Group were trading down 6.7% at 0810 GMT, while rival lender Royal Bank of Scotland saw its stock slide by 4%.

Europe's largest bank by assets HSBC was trading down 2.5% while Barclays plunged 8.1%. (Reporting By Sinead Cruise, editing by Carolyn Cohn)