Standard Chartered stock also falls after claims banking sector handled $2tn in potentially corrupt transactions
Shares in the banking sector fell on Monday after media reports that some of the world’s largest banks had moved large sums of allegedly illicit funds over nearly two decades, despite red flags about the origins of the money.
Barclays fell by 4% in early trading in London and HSBC and Standard Chartered both lost 3%. Earlier in Hong Kong, HSBC dropped more than 4%, taking the shares to their lowest level sinceMay 1995.
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