Falling stocks in Europe and US stoke banking crisis fears | DW News

Adolf Goebbels
Published on Mar 16, 2023
A record drop in shares at Swiss banking giant Credit Suisse on Wednesday has fanned fears of a possible banking crisis.

US-listed shares at the global investment bank plummeted by more than a quarter after the bank's largest shareholder â€” the Saudi National Bank â€” said it would not inject more cash into the bank.

The Financial Times reported that Credit Suisse had appealed to the Swiss National Bank for a public show of support, citing people familiar with the matter.

At the close of trade in Europe on Wednesday, Credit Suisse's stock price was down 24%, having recovered slightly from its lowest ebb during the day.

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#creditsuisse #banking

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