- U.S. stocks dropped on Wednesday as turbulence at Credit Suisse renewed fears of a banking crisis, while data hinting at economic weakness kept alive hopes of a less aggressive monetary policy move by the Federal Reserve in March.
U.S.-listed shares of Credit Suisse slid 24.3% to hit a record low, after the Swiss bank's largest investor said it could not provide more financial assistance to the lender. Fuelling hopes of a less hawkish Fed policy, data showed retail sales fell 0.4% last month from a growth of 3.2% in January, while economists polled by Reuters had expected a contraction of 0.3%.
A separate report showed U.S. producer prices unexpectedly fell in February and the rise in prices in January was not as large as initially thought, offering some hopeful signs in the fight against inflation.
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Credit Suisse unease sparks fresh selloff in world stocks By Reuters⚠️BREAKING: *EUROPEAN STOCKS PLUNGE AS CREDIT SUISSE UNEASE SPARKS FRESH SELLOFF IN BANKS 🇪🇺🇩🇪🇫🇷🇮🇹🇪🇸🇬🇧 Woohoo I’m happy that I use creditscom app
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Credit Suisse Stock Price Drops 17% to New Low as Jitters MountCredit Suisse shares (CSGN) fell as much as 17% early Wednesday and hit a fresh all-time low, reflecting increasing concerns about the bank's struggles to stabilize its operations. Prices on Credit Suisse bail-in bonds, which get wiped out in c Neutralidad. Ok. Koerner is the worst BNP + SocGen also cratering - CS derivative exposure? It will be a fun day at the Swiss National Bank (SNB)
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Credit Suisse says outflows have stabilized but not reversedCredit Suisse said customer 'outflows stabilized to much lower levels but had not yet reversed as of the date of this report' in its 2022 annual report published on Tuesday. This means it hasn’t This bank is done. Market should insta exit this AM. Not just the banking sector.
Source: Reuters - 🏆 2. / 97 Read more »