Stock indexes worldwide tumbled for the third straight session on Tuesday on fears of slowing global growth, with particular concern around the health of the banking sector, while benchmark U.S. Treasury yields hit fresh one-year lows.

The European banking index .SX7P fell 4.6 percent after sinking 5.6 percent on Monday on fears of worsening bank profitability and capital strength from sustained low interest rates.

Deutsche Bank shares (DBKGn.DE) fell 4.1 percent after slumping 9.5 percent on Monday on concerns about its ability to maintain bond payments. Shares of U.S. banks also stumbled, with the S&P financial index last down over 1 percent.

U.S. shares recovered ground on improvement in technology stocks, but all three major U.S. indexes were flat to lower, with losses being felt in energy and financial stocks. Stocks lost more than 1 percent Monday.

“The general thematic (risk) continues to be the European banking situation that has unhinged the risk market and slowly crept into the credit markets,” said Chad Morganlander, portfolio manager at Stifel, Nicolaus & Co in Florham Park, New Jersey.

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