European Banking Stocks Halted After Steep Losses, Consultancy Identifies Fundamental Differences.

European markets were down with banking stocks leading the losses due to the global Silicon Valley Bank fallout. Credit Suisse, Societe Generale, and several Italian bank stocks were halted from trade due to steep losses. BMW lifted its margin forecast and expects higher deliveries as it ramps up electric rollout. China's industrial output and retail sales rose in the January to February period. Moody's cut its outlook to negative on the US banking system citing a "rapidly deteriorating operating environment."