Sep 21 (Lagos) - Stock markets around the world took a beating after a huge scandal involving HSBC bank was unraveled showing that criminals used the Bank of move huge amounts of money around the world. Shares of HSBC fell to 25 year lows in Hong Kong.
Banks in other parts of the world were also affected by the scandal. In the UK, Lloyds Banking Group declined more than 6% to hit a new one year low. Barclays was down more than 6% as well in London.
In the US, Bank of America declined more than 4%, Well Fargo was down 5% and Citigroup was down 3% at the time of writing this article.
The Dow Jones is down almost 3% while the S&P is down 2.3% at the time of writing this article.
In Lagos, we had a flat day with the all share index up by 0.01% led by minuscule gains in
MTNN and GUARANTY bank.
reporting for easykobo.com on Monday, Sep 21 2020 from Lagos, Nigeria