U.S. stock futures were lower this morning as the Dow futures plunged over 100 points on Monday.
Shares of Banco Santander, S.A. SAN took a steep dive during today’s pre-market trading.
Reports emerged about Iranian entities allegedly utilizing accounts at Lloyds Banking Group and Banco Santander to evade U.S. sanctions.
The Iranian entities, including the Islamic Revolutionary Guard Corps, reportedly leveraged the British and Spanish banks to bypass U.S. sanctions, which was disclosed in the Financial Times on Sunday. The IRGC is a branch of the Iranian Armed Forces and has been recognized as a terrorist organization by the U.S.
Banco Santander shares plummeted by 6.9% to $3.89 in pre-market trading.
Several other big stocks recorded significant losses in today’s pre-market trading session.
- Cytokinetics, Incorporated CYTK saw a decline of 7.9% to $75.40 in pre-market trading.
- Groupon, Inc. GRPN experienced a 6.5% decrease to $13.12 in pre-market trading.
- BigCommerce Holdings, Inc. BIGC shares fell 4.4% to $7.98 in pre-market trading after a 2% gain on Friday. BigCommerce is poised to release its financial results for the fourth quarter before the opening bell on Feb. 22, 2024.
- KB Financial Group Inc. KB witnessed a 3.4% dip to $47.80 in pre-market trading, following a 7% uptick on Friday.
- Topgolf Callaway Brands Corp. MODG saw a 3.8% decrease to $13.00 in pre-market trading.
- Arcadium Lithium plc ALTM experienced a decline of 3.2% to $4.53 in pre-market trading. Arcadium Lithium is anticipated to disclose its fourth quarter 2023 earnings results after the closing bell on Feb. 22, 2024.
- Lloyds Banking Group plc LYG witnessed a 2.4% decrease to $2.06 in pre-market trading. Iranian entities reportedly used accounts at Lloyds Banking Group and Banco Santander to evade U.S. sanctions.
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