Global credit jitters hit UK banks as U.S. regional-bank losses ripple across markets

Major UK banks lost nearly £11 billion in market value as investor concern over losses at U.S. regional banks triggered global banking-sector stress. European banks including :contentReference[oaicite:3]{index=3} and :contentReference[oaicite:4]{index=4} fell approximately 6-7% as funding and risk-appetite questions resurfaced. The credit-shock fears amplified selling in financials and drove safe-haven flows into gold and government bonds. Analysts warn contagion risk remains elevated while regulatory attention turns to cross-border interlinkages.