The banking sector has been struggling recently amid record low global interest rates and banking stocks trailed the global stock market rally. For the HSBC (HSBA.UK) it is a double trouble as the bank has large exposure to Asia – nearly 50% of revenues came from this region in 2019. Tougher China stance on Hong Kong spoiled market moods on Friday and businesses with significant exposure to the region are particularly hit. As a result the stock fell to the lowest level since 2009, more than 50% from a 2018 high.

Daily summary: Trump’s remarks give Wall Street some hope🗽 Oil hovers around $100
Is the AI boom losing momentum? Microsoft down 33%, echoing the 2022 selloff
Wall Street under pressure again 📉IT stocks fall, oil & gas sector surge
Market Wrap: Geopolitical Rebalancing; Markets Wary of the Outcome of the 5-Day “Standoff” 🚨