Barclays and HSBC shares fall after reports of alleged suspicious transfers

Standard Chartered stock also falls after claims banking sector handled $2tn in potentially corrupt transactions

Shares in the banking sector have fallen after media reports that some of the world’s largest banks moved large sums of allegedly illicit funds over nearly two decades, despite red flags about the origins of the money.

Barclays fell by 4% in early trading in London on Monday and HSBC and Standard Chartered both lost 3%. Earlier in Hong Kong, HSBC dropped more than 4%, taking the shares to their lowest level since May 1995.

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