Barclays and HSBC shares plunge after reports of alleged suspicious transfers

Shares in the banking sector fell on Monday after media reports that some of the world’s largest banks had 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 and HSBC and Standard Chartered both lost 3%. Earlier in Hong Kong, HSBC dropped more than 4%, taking the shares to their lowest...