European markets head for negative open as banking sector jitters return

European markets are heading for a negative open Wednesday as concerns resurface over the health of the global banking sector. British bank Standard Chartered posted a 21% rise in pre-tax profit, ahead of estimates. But Asia-Pacific markets were trading mixed after banking fears were reignited on Wall Street. This came after shares of First Republic Bank tumbled more than 49% Tuesday after the regional bank posted its latest quarterly results Monday, saying that deposits dropped 40% to $104.5 billion in the first quarter. The announcement put pressure on U.S. markets yesterday, though stock futures rose overnight.