Commerzbank, Deutsche Bank, UBS extend losses on recession fears after US tariffs

Erste Bank AG

07/04/2025 07:41

** Shares in German, Swiss and Austrian lenders fall in early trade for a third day as U.S. President Donald Trump's sweeping tariffs ignited fears of an all-out trade war and a global economic recession

** Renewed uncertainty on rates is likely to weigh on the sector, MS says

** Germany's Commerzbank CBKG.DE and Deutsche Bank DBKGn.DE are down between 9.5%-10.3%

** Switzerland's UBS UBSG.S and Julius Baer BAER.S are seen down between 3.6% and 4.6% in pre-market trade

** Austrian Raiffeisen Bank International RBIV.VI slides 5.5%

 (Reporting by Anastasiia Kozlova)

 ((Anastasiia.Kozlova@thomsonreuters.com))