Market Insider

European bank stocks tumble again amid Brexit fears

Fabrice Coffrini | AFP | Getty Images

Major European bank stocks tumbled on Wednesday as Brexit woes continued to weigh on investor sentiment.

U.S.-listed Deutsche Bank shares dipped as low as $12.50 on Wednesday, an all-time low since 2001, and ended the day 3.2 percent lower. Royal Bank of Scotland's stock dipped 5.4 percent to trade near $4.

UBS hit its lowest level since November 2014, when it completed its share-for-share exchange offer between UBS Group AG and UBS AG.

The Stoxx 600 European Banks index slid more than 2.5 percent and is on the road to a weekly loss of more than 6.5 percent.

Political and economic uncertainty after the U.K.'s vote to leave the European Union is continuing to send investors scurrying to safe havens like gold. Italian banks especially could be a weak link in Europe due to bad bank loans.

Bond yields also plunged to record lows as U.S. stocks traded mostly lower on Wednesday morning. However, they inched higher later in the day.

STOXX 600 year to date:

— CNBC's Gina Francolla contributed to this report.