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Nervousness About Global Banking Giants Intensifies
An unsettling trend has emerged from the heavy selling that sent global markets tumbling this year: Investors are getting nervous about the world’s biggest banks. The concerns about the banks are clearly reflected in the stock markets, where shares in banking giants are plunging. But there are also ominous signs in markets that investors use to bet on the perceived creditworthiness of large financial firms. A crucial benchmark for the banking sector, the KBW Nasdaq Bank Index, was down more than 3 percent on Monday and had lost nearly 20 percent of its value this year. There were other signs of nervousness. ... (full story)