Stock markets fell on Monday.
The S&P 500 fell 0.9 percent, the STOXX Europe plunged 1.6 percent and the Nikkei 225 tumbled 1.3 percent.
The declines were led by bank stocks amid concerns Deutsche Bank will need to raise capital following an anticipated legal settlement with the US Justice Department.
US stocks may continue to struggle after the latest poll by FactSet showed that companies in the S&P 500 are now expected to report an earnings decline again in the third quarter, the sixth consecutive quarter of declines.
The energy sector of the S&P 500 had the largest downward earnings revision for the third quarter, with earnings now expected to decline 66 percent, the largest among all sectors.
However, US crude jumped 3.3 percent on Monday, providing investors some hope that earnings may turn around soon.
“The market is anticipating we’re going to see a resumption of earnings growth, and I think that’s the right perspective,” said David Lefkowitz, senior equity strategist at UBS Wealth Management Americas.