Banking stocks across Europe plunged Friday, dragged down by a sharp opening fall in shares in Deutsche Bank, Germany's biggest lender.

Deutsche stock dropped around nine percent in early business amid fears about its viability, pulling down its peers, with Societe Generale in Paris, Barclays in London, Unicredit in Milan and Santander in Madrid losing between four and five percent in response.

But Deutsche shares recouped some of their early losses after the first hour of trading, posting a two-percent loss by 0810 GMT.