Shares in European banks sank further on Friday, adding to losses triggered by Wednesday’s announcement of U.S. tariffs and their effects on global trade and economic activity, after China slapped retaliatory tariffs on U.S. goods.

The pan-European Stoxx 600 banking sub-index dropped around 10% in midday European trading, piling onto Thursday’s 5.5% losses on fears of an eventual toll on the sector from the economic impact of U.S. President Trump’s new tariffs.