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European stocks ended the day with their worst performance on record.

European stocks posted their worst one-day performance in more than a year today, with bank stocks selling resumed.

This came after renewed investor concerns about the pressures on the sector, following the drop in Credit Suisse Bank’s shares to a new record high.

The European Stoxx 600 index closed today down 3 percent, and the banking sector index fell 7.1 percent, recording its largest one-day drop in more than a year..

The banking indices in Spain and Italy fell by more than 4 percent each.

Efforts by regulators and CEOs failed to allay investor fears that other banks would collapse following the sudden collapse of Silicon Valley Bank..

Credit Suisse shares plunged 24.2% to below 2 Swiss francs ($2.18), after the bank’s largest shareholder said it could not raise its stake to more than 10%, citing regulatory issues..

Energy companies were also among the main factors dragging the market down, after Shell and BP fell more than 8 percent each as oil prices hit their lowest in more than a year..

Retail stocks fell 4.4% after Inditex, which owns Zara, the world’s largest fashion retailer, fell 4.6% after it announced higher investment spending.

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