Business Credit Suisse closes with falls that shock European banks

Credit Suisse closes with falls that shock European banks

Credit Suisse shares fell 24% today on the Zurich Stock Exchange, a collapse that dragged other European bank values ​​lower, after having come to lose 30%, in a dark day for the second largest bank of Switzerland, marked by the refusal of the Saudi National Bank, its main shareholder, to give it more financial assistance.

Milan has fallen 4.61%, Madrid, 4.37%; London, 3.83%; Paris, 3.58%; Frankfurt, 3.27%; and the Euro Stoxx 50 index, which groups the largest listed companies, 3.46%. They are the biggest decreases so far this year in all cases.

The shares of the Zurich bank, one of the 20 largest in Europe and one of the top 50 in the world, ended the day around 1.7 Swiss francs (1.74 euros), after having reached a record low. of 1.5 francs during the session (1.54 euros), when they had never been below 2 francs per ballot.

The Spanish Stock Market collapses 4.37%

The Spanish Stock Market collapsed 4.37% today, its biggest fall since November 2021, dragged down again by banks and by investor fear of a possible bankruptcy of the Swiss bank Credit Suisse and a subsequent debacle of European banks .

The main Spanish selective, the IBEX 35, dropped 4.37% or 399.9 points, its biggest drop since the Omicrón variant of the coronavirus was discovered, and stood at 8,759.1 integers.

It is its first close below 8,800 points since January 13.

Source: Euronews Español

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