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Banking stocks give up gains as caution reigns

European banks slipped into negative territory in early afternoon trade after rallying 2.6% at the start of the session.

The sector was down 0.17% at 1:07 p.m. London time despite Credit Suisse continuing to trade 21% higher.

However bank losses were minor compared with Wednesday. Societe Generale was down 1.35% while Deutsche Bank shed 1.4%, reported CNBC.

European stocks fall as ECB hikes rates; Credit Suisse up 20%

European stock markets moved lower after the European Central Bank said it would hike interest rates by 50 basis points despite recent volatility in the region’s banks. The Stoxx 600 index moved from a narrow gain to a 0.15% loss after the announcement at 1:15 p.m. London time, reported CNBC.

European Central Bank calls Europe's banks "resilient," with strong finances amid US bank failures, Credit Suisse woes.

Dow falls 200 points, regional banks drop

The Dow Jones Industrial Average fell Thursday as regional banks slid once again on growing fears of a banking crisis within the U.S. and Europe.

The 30-stock index were down 222 points, or 0.7%. S&P 500 futures lost 0.6%, while Nasdaq-100 futures slipped 0.5%, reported CNBC.