Credit Suisse bank stock tumbles by a quarter
March 15, 2023 - The plunging stock price of Credit Suisse has exacerbated jitters among investors already spooked by the collapse of SVB.
Credit Suisse has lost a quarter of its value after its largest investor said it could not give the Swiss bank any more financial help.
Saudi National Bank, which owns almost a 10% stake in Credit Suisse, said it absolutely was not open to supplying further financial support to the troubled bank.
The comments sent Credit Suisse shares down 25% in the biggest one-day sell-off on record.
Banking shares around the world are falling as investors remain nervous following the collapse of Silicon Valley Bank (SVB) in the United States on March 9.