HSBC shares drop after shock Q4 loss

Global banking giant HSBC on Monday reported a shock pre-tax loss in the last quarter of 2015 with results for the year missing analysts' expectations, as it grapples with "seismic shifts" in the world economy. HSBC last year announced a radical overhaul of its business to cut costs that included shedding 50,000 jobs worldwide, exiting unprofitable businesses and focusing more on Asia. Like many global banks, HSBC is combating turmoil in global financial markets that has seen stocks and commodit