Post #150590

Credit Suisse leads Europe bank rout in renewed SVB fallout European bank stocks fell sharply on Wednesday, with embattled Credit Suisse (CSGN.S) tumbling to a new low, on renewed investor concerns about stresses within the sector triggered by Silicon Valley Bank's sudden collapse. Regulators and financial executives around the world have sought to assuage contagion fears after tech-focused lender SVB and another U.S. bank failed last week, but worries persist. A more than 20% drop in Credit Suisse shares led a 6% plus fall in the European banking index (.SX7P), while five-year credit default swaps (CDS) for the flagship Swiss bank hit a new record high, highlighting increasing investor concerns. read more