Jim Lebenthal believes EU banks are in big trouble.
"It's just an environment, in which it's hard for those banks to lend with any sense of risk control; then there's the fact that rates are probably going to lower for them hurting their margin," said Lebentahl.
Jim believes that U.S. bank margins will also be hurt but with today's decline, it may be all the adjustment these stocks need. He continues to own Citigroup.
Anastasia Amoroso agreed with Lebenthal saying, "I think it's really tough for financials here, at least for a short period of time. I mean the issue is on that Jim mentioned the lower interest rates."
Trader Josh Brown thinks right now is not the time to invest money in European banks.
"I look at the European banking TF, I look at the individual names, none of them look like they're done going down, so I want to keep my eye on them, but I don't want to say, yes, blindfold yourself, buy all the financials here indiscriminately.It's not time," said Brown. Josh was most concerned with the move in Goldman Sachs today and what that could mean.
Trader disclosure: On the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Halftime Report" were owned by the "Halftime Report" traders: