Absolutely Brutal Swing In French Bank Shares In The Past Hour

Earlier this morning SocGen was up 6.5% and with other French banks was leading a global rally.

Things turned south in the past hour when rumours hit the market that BNP Paribas may face another $713 loss on Greek debt. BNP Paribas lost big gains and dropped over 6% into the red. SocGen followed the collapse and dropped 7.5% in the red — continuing yesterday’s 22% loss.

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