Business

Here’s why Credit Suisse’s failure matters to US investors


Thousands of miles off the coast of the United States early Wednesday, a headline began to spread across Europe, then Wall Street, sparking renewed panic as investors realized they might have to face facing another banking crisis.

In Zurich, shares of Credit Suisse CS CH:CSGN at one point fell more than 20% to a new record below 2 euros after the chairman of the Swiss bank’s top shareholder, the National Bank of Saudi Arabia , said it will no longer invest in the stock. bank.

His…

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