The drop came after a huge selloff in Credit Suisse shares undermined investor sentiment, with fears growing thatplummeted 22% early Wednesday after its top shareholder the Saudi National Bank ruled out extending any more to support the troubled bank, with trading in the stock being halted several times.The extended tumble in Credit Suisse's share price has fueled unease about the global banking sector after SVB, Signature Bank, and Silvergate Capital all imploded over recent days.
"Investors are now trying to guess which might be the next domino to fall, both in the US and outside it," IG Group's chief market analyst Chris Beauchamp said. "Contagion is on everyone's lips, and at present it is too tough to say whether the crisis can be contained effectively," he added.
to your portfolio... 'Great, now I'm feeling so much better about my investments!'
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Source: MarketWatch - 🏆 3. / 97 Read more »
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