Britain’s banking stocks crashed by as much as 30%

Banking stocks are bearing the brunt of the market crash triggered by Britain’s vote to leave the European Union on Friday. Markets across the continent are getting crushed, but UK banking stocks are particularly bad right now.

Soon after the open all of Britain’s biggest financial firms crashed in the markets, with losses of as much as 30% for the country’s most important banks. Since the open, and soothing comments from Bank of England governor Mark Carney, bank stocks have rebounded a bit, but some losses are still in excess of 20%. Here is how things look at around 12.00 p.m. BST:

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HSBC has come off relatively unscathed on the day, thanks to its limited exposures to the UK market compared to other FTSE listed banks. It is down just over 4% so far:

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