Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessWhy has Credit Suisse stock fallen by almost 30 percent? Global fears...

Why has Credit Suisse stock fallen by almost 30 percent? Global fears about banks increase

Add to Favorite
Added to Favorite

 

Shutterstock Pincasso

Credit Suisse (CS) stock price fell by almost 30 percent on Wednesday, in pre-market trading. Top shareholder Saudi National Bank ruled out increasing investments in the beleaguered financial bank, leading to the deep plunge at a time when global fears about banks increase. Mid-afternoon trading on the SIX stock exchange put the stock price at about 1.6 Swiss francs which is equivalent to $1.73.

Organic Greek 28 Day Detox Best Weight Loss Slimming Tea, Detox, Cleanse, Speed up Metabolism, Lose Weight Naturally and Healthy

After the recent collapse of banks in the U.S., Credit Suisse became the first European Bank to see a huge dip in its value, though the bank has been facing several problems from quite a while, even before the collapse of the US banks.

Two French banks saw a fall in share price. Societe Generale SA saw a fall of 12 percent while BNP Paribas fell by over 10 percent. There was a brief suspension in the trading of thr shares of the French banks. Another major European bank Deutsche Bank saw its share price fall by 8 percent and Barclays Bank in Britain also followed closely behind with an almost 8 percent drop in stock price.



Many experts consider Credit Suisse to be the weakest link among major European banks. A recent report by the bank that mentioned “material weaknesses” in internal controls on financial reporting by the bank increased the doubts about the viability of the bank. The bank was already in a weak position and recent events have made its position more precarious.

In October, Saudi National Bank had invested about $1.5 billion Swiss francs to gain a stake of under 10 percent in Credit Suisse. Saudi National Bank Chairman Ammar Al Khudairy told major news outlets Reuters and Bloomberg that their bank would not invest further in the Swiss bank.

Organic Greek Vitamin Bottles. Hydrogen Alkaline Generator Water + Filter 4 in 1 Design 500mL (16.9 FL OZ)

Credit Suisse bank stock plunged by almost 30 percent after the report by the major outlets that the bank would not receive further investments from Saudi National Bank. An investment of above 10 percent in a Swiss bank will invite regulations on the investor by Swiss authorities.

Celebrity News Update— Premier Jewelry designer and manufacturer fashion house  ParisJewelry.com  has started manufacturing a new custom line of celebrity jewelry designs with 30% Off and Free Shipping. Replenish Your Body- Refilter Your Health with  OrganicGreek.com  Vitamin Bottles, Vitamins and Herbs. Become a  WebFans  Creator and Influencer.

How Groupon Will Revolutionize And Help The Retail Industry Post Covid -19

Subscribe to get Latest News Updates

Latest News

You may like more
more

US Dividend ETFs Bask in Investor Attention After Jumbo Fed Rate Cut

Following a substantial interest rate cut by the Federal...

US Recession Likely: Is Soft Landing Wishful Thinking? Insights from BCA Research

As economic indicators fluctuate, the debate over the likelihood...