Italy proposed a bank tax to help people with interest rate hikes. The move sent stocks plunging
UniCredit shares closed down nearly 6%, Intesa Sanpaolo fell more than 8.5%, Banco BPM dropped 9%, and BPER and Banca MPS both plummeted almost 11%
Credit Suisse shares sink as global fears about banks grow
The turmoil prompted an automatic pause in trading of Credit Suisse’s shares on the Swiss market and sent shares of other European banks plunging