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Banking stocks in the region suffered particularly hard as those learning how to trade exhibited concern about the possibility of Greece defaulting on its debt.
Justin Urquhart Stewart, director of Seven Investment Management, told Reuters that investors are starting to pick out financial institutions.
"Politicians have to stand behind these banks - whether you call it state support, nationalisation, you have to keep the financial system working otherwise we will end up with another credit crisis," he stated.
This morning, the STOXX Europe 600 Banking Index dipped two per cent, while the Franco-Belgian Dexia declined by 13.9 per cent.
Last week, asset manager at Independence Wealth Management Rob Noble-Warren asserted that traders should diversify their portfolio to help protect them from shifts in the markets.
Posted by Greg Secker
