Bank stocks hit hard as European equities open in the red

Concerns on the fall in the Turkish lira are hurting regional bank stocks

The Eurozone banks stocks index is down 1.6% to its lowest since end-June currently. BNP shares are down by more than 1% and BBVA shares are down 3% and we're also seeing UniCredit shares take a hit on worries surrounding the lira.

As for the DAX, losses are led by Bayer (down 10%) after its targeted acquisition Monsanto lost a $289 million verdict in the first trial of the Roundup cancer trial.