Stocks are tumbling on Wall Street as shares of Switzerland’s Credit Suisse tumbled to a record low and worries about the strength of banks worsen.
FILE - The New York Stock Exchange is seen in New York, Tuesday, June 14, 2022. Stocks are tumbling on Wall Street Wednesday as worries about the strength of banks worsen on both sides of the Atlantic Ocean. The S&P 500 was 1.4% lower in early trading, while markets in Europe slumped even further as shares of Switzerland’s Credit Suisse tumbled to a record low. The Dow Jones Industrial Average and the Nasdaq composite also fell sharply at the open.
Large and mid-size banks in Europe and the U.S. sank sharply before U.S markets opened, particularly in Europe. Major European banks fell between 5% and 10%, though Switzerland’s Credit Suisse skidded nearly 25% to all-time lows. That decline comes after media reports that Saudi National Bank representatives said they could not shore up their investments in Credit Suisse, citing regulatory concerns.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank stocks drop and S&P 500 swings as Wall Street shakesNEW YORK (AP) — Wall Street is worried about what may be next to topple following the second- and third-largest bank failures in U.S. history, and stocks are swinging sharply Monday as investors scramble to find someplace safe to park their money.
Read more »
Bank stocks plunge and gold rises as Wall Street deals with uncertaintyThe most pressure is on the regional banks one or two steps below in size of the massive, “too-big-to-fail” banks that helped take down the economy during the 2008 financial crisis.
Read more »
Bank stocks plunge and gold rises as Wall Street deals with uncertaintyThe most pressure is on the regional banks one or two steps below in size of the massive, “too-big-to-fail” banks that helped take down the economy during the 2008 financial crisis.
Read more »
Bank stocks dive as Wall Street trembles amid SVB failureTrading halted at more than a dozen regional banks after prices continued to free fall.
Read more »
Play ultimate defense with these stocks that rise when volatility goes wild on Wall StreetAs economic uncertainty grows, investors can look at these defense stocks to beat the Street.
Read more »
Bank stocks dive as Wall Street trembles amid SVB failureBank stocks fell Monday on worries about what may be next to topple following the second- and third-largest bank failures in U.S. history.
Read more »