BNKEP.XD is trading 3.76% down as broad pressure on European bank shares weighs on the ETF. - The Euro Stoxx Banks Index fell as much as 4% on October 7, with every constituent lower; reports linked the weakness to political turmoil and rising bond yields. - French fiscal and political concerns added pressure on banks. - Higher oil prices amid Strait of Hormuz tensions and elevated yields are weighing on risk sentiment and raising inflation concerns, adding to the broader risk-off mood.