Shares of major U.K. banks fell sharply on Wednesday after several announced they would halt dividends for 2020 at the request of the Bank of England. Barclays PLC BARC, -2.85% BCS, +1.34% fell over 5% and shares of HSBC Holdings PLC HSBA, -2.53% HBC, +6.09% tumbled 7% after those banks said they would suspend dividends. The Bank of England's deputy governor Sam Ross wrote to the heads of big U.K. banks asking them to suspend dividends to support the wider economy as it battles the coronavirus pandemic. Other U.K. banks also fell sharply, with Lloyds Banking Group PLC LLOY, -1.80% and Royal Bank of Scotland Group PLC RBS, -1.23% [S: uk:rbsa] fell 4% each as they also announced dividend halts.