| Up to $700 billion (481.70 billion pounds) of European stocks, including major banks, could be in the firing line as the slump in oil prompts some producer countries' sovereign wealth funds to offload investments.
Fund managers and investors say recent sharp selloffs in global markets and especially European stocks may have been exacerbated by national rainy-day funds selling parts of their equity portfolios to ease squeezed public finances. That might also help explain why European bank stocks have lost nearly a quarter of their value since the start of the year, a $240 billion wipe-out more brutal than at the start of the financial crisis in 2008...............................................Full Article: Source
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