Global banks lost trillions of dollars in stock value in 2020 - Decrypt
The equity performance of banks and financial institutions was strongly impacted this year causing their valuations to fall by trillions of dollars, according to a report by trading firm ForexSchoolOnline.
The main factor behind the plunge was the coronavirus outbreak that caused significant instability and led to high volatility in global capital markets, resulting in the global banking market fall to $7.4 trillion in the second quarter of 2020. The figure was a 28% drop compared to 2019.
