BANK STOCKS HIT BY VIRUS


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Share prices for many of Europe’s biggest banks closed down as much as 7 percent last week, dropping further than many market indexes hit by the coronavirus scare.
Standard Chartered PLC, which focuses on Asia, has warned of new difficulties meeting its 2020 profit targets. It has temporarily halted face-to-face services in many Asian branches, has allowed some clients to delay mortgage and loan payments, and has waived fees on personal loans.
HSBC said it could face $600 million in disrupted loans if the virus epidemic extends its economic infection beyond June.
Citigroup, JPMorgan Chase, and HSBC have restricted or banned travel to virus-affected areas and many conferences and other events have been canceled.

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