The European Central Bank's dimmer outlook for the eurozone growth and lengthened timeline for when its next rate hike might occur are leading bank stocks lower, with, of course, Europe-based banks bearing the brunt.
The iShares MSCI Europe Financials Sector Index ETF (NASDAQ:EUFN) sinks 2.3%.
Deutsche Bank (NYSE:DB), Germany's biggest lender, slides 4.9%; if that decline holds, it would be Deutsche's biggest one-day decline in a month.
U.S. financials are also caught up in the downdraft, bringing the Financial Select Sector SPDR ETF (NYSEARCA:XLF) down 1.3%.
Meanwhile, the Dollar Index strengthens 0.5% to 97.39 and the 10-year Treasury rallies, pushing yield down 4 basis points to 2.65%.
Previously: Euro droops as ECB cuts 2019 euro zone outlook (March 7)
Subscribe for full text news in your inbox