Brexit Fallout Continues To Pummel U.K. And U.S. Bank Stocks

The stocks suffering the biggest percentage declines in premarket trade Monday can blame Brexit for their woes. The U.S.-listed shares of Barclays PLC plunged 24%, after tumbling 20% on Friday. The stock was on track to open at the lowest level since March 25, 2009. The next biggest decliners were the U.S.-listed shares of Royal Bank of Scotland Group PLC , which plummeted 20% toward the lowest price seen since Jan. 26, 2009, and Lloyds Banking Group PLC , which plummeted 17% toward the lowest level seen since Nov. 16, 2012. On Friday, shares of both RBS and Lloyds had tumbled 23%. The selloff in U.K. bank stocks continued to spill over to their U.S.-based peers, with the SPDR Financial ETF shedding 1.5% ahead of the open after tumbling 5.4% on Friday. Among XLF components, shares of Bank of America Corp. slumped 1.8%, Citigroup Inc. shed 1.9% and J.P. Morgan Chase & Co. dropped 1.6%.

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