🔴 European Banks ETF (EXV1.DE) is trading 3.3% down on global bond selloff and rate fears

EXV1.DE is trading at €39.96, down 3.33%, as a global bond selloff and rising oil prices revived inflation and rate concerns.

• On October 7, European bank shares fell sharply; the STOXX Europe Banks index was down 3.5%.
• French political and fiscal uncertainty heightened fears of sovereign-spread contagion. Higher yields raised concerns about banks’ sovereign-bond holdings and housing exposure.
• The wider European market weakened: the STOXX 600 fell 1%, while banks fell 3.3%.