Few traders were banking on banks on Wednesday.
Europe's markets shocked by the unexpected weight of bad news from the sector - itself the worst performing on the STOXX 600.
In the front line: BNP Paribas ....
Suffering a 1.5 per cent hit on news of cuts to key targets, though its shares did recover some ground later.
Its investment banking and trading arm saw a 40 per cent revenue plunge, thanks to slumping financial markets.
Handelsbanken was even worse off.
Four per cent knocked from its shares on disappointment over a dividend that came in below the expected payout.
While another Nordic giant, Nordea, was marked down on a 6 percent drop in Q4 revenue - dashing, analysts said, hopes of improvement.
It wasn't only banks depressing sentiment: Daimler fell to the bottom of the DAX as it revealed a severe dent to Q4 numbers from trade wars and development costs.
But other banks helped too ....
Credit Suisse said it expects to have to pay higher taxes in 2018 than previously forecast.
And HSBC edged into the red on a report that it's preparing to lay off dozens of staff in its global banking and markets business.
For those who did want to bet on the sector: ING reported better-than-expected Q4 earnings.
Despite a hefty 775 million euros Q3 fine for poor monitoring of money laundering, it says it's winning new customers.
Bucking the trend, the Dutch financial group saw its shares surge upwards by 5 per cent.