Credit Suisse shares plunge 20% after Saudi backer rules out more money

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Credit Suisse shares tumble more than 20%, leading a plunge in European bank stocks

shares tumbled more than 20% in early trading on Wednesday after its biggest backer ruled out investing any more into the troubled Swiss bank.

Meanwhile, in Zurich, its stock fell 15.71% to $1.88 after dropping 19% to $1.79 earlier in the session, marking a new record low on Switzerland's stock exchange. The bank's stock is down about 24% since the start of the year.replaced Harris Associates

 

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