Bank stocks tumble as US lender jitters trigger a global market shift, with gold hitting a fresh peak. The recent turmoil in the banking sector has investors on edge, prompting a surge in safe-haven assets like gold and a decline in bank stocks. European banks saw a 2.7% drop, with Deutsche Bank and Barclays leading the charge, following similar losses in Asian financial stocks. The S&P 500 and Nasdaq futures also took a hit, with concerns over US regional bank earnings. The US dollar faced pressure, while gold and Treasuries climbed, with gold hitting a record high of $4,378.69 per ounce. The market's reaction to these developments highlights the ongoing impact of the 2023 banking crisis and the potential for further instability. Oil prices extended losses as US President Trump and Russian President Putin plan to meet, signaling a potential end to the Ukraine war. This complex interplay of factors continues to shape global markets, leaving investors navigating a volatile landscape.
