It is not clear to me why this discrepancy between banks and other businesses is so large, but perhaps at least part of it can be explained by the fact that, historically, governments have been much more reluctant to allow a bank to fail than other types of businesses, which may lead banks to operate closer to the edge.
The first factor to mention is the recent escalation in trade conflicts between the US and China, with both nations announcing an increase in tariffs on a broader range of goods than initially targeted.