European bank stocks have given up all their gains for the year; Analysts: Bank stocks have become the latest victims of artificial intelligence

Glonghui, February 14th｜European banking stocks plunged sharply, erasing all gains made so far this year. The European bank stock index fell by 3%, with the share prices of several major banks dropping significantly. Société Générale fell 5.3% in Paris, while German banking giants Commerzbank and Deutsche Bank dropped 5.2% and 3.6% respectively. Spain's Santander Bank and BBVA declined by 2.5% and 3.2% respectively, and Italy's UniCredit fell by 3.75%. Barclays dropped 2.3%. Joachim Klement from Panmure Liberum stated that banks have become the latest victims of concerns spreading around artificial intelligence competition. "'AI losers' as a theme has now spread to the banking sector. Investors are selling first and asking questions later," Klement said.