UK Bank Shares Slide on Gilt Yields and Budget Jitters
UK bank stocks fell sharply as 30-year borrowing costs reached their highest level since 1998. Lender executives face meetings with the finance minister ahead of the upcoming budget.
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United Kingdom banking shares dropped sharply on Thursday afternoon as 30-year borrowing costs reached their highest level since 1998 amid mounting fiscal jitters. The FTSE 350 banks index fell 4.1%, marking its largest one-day drop since May 5. The sell-off reflects rising investor anxiety over the nation's public finances ahead of the upcoming budget.
