That´s actually a tale of two very different banks. The regional US ones having "issues." In Europe it´s a consolidation war with banks trying to grow by merger and takeover. And the valuations of the european financial institutions are way below the US ones, despite bringing in excellent returns.
Oh wow, I was expecting losing money today as well, but this movement is a bit excessive with no real trigger.
Especially since most of these companies have earnings in a week or two.
The real fun starts when folks realize "safe haven" assets like gold become far less safe after a parabolic run-up. Between profit-taking and panic amongst a crowd that is already skewed towards high anxiety and pessimism, the liquidation event in precious metals, a trade that has been heavily fueled with leveraged bets over the past month, is going to make last week's crypto sell-off look tiny in comparison. April 2013, gold crashed 15% in two days, 25% in 3 months.
This is like the 3rd tariff this year calm down everyone is down. Everything will be all fine just like two other times it happened. See how fast market recovered on Sunday.