Shares of Credit Suisse plunged to all-time lows on Wednesday after its top shareholder said he would not plow more cash into the struggling Swiss banking giant — sparking fears that a global banking contagion is spreading.
Credit Suisse reportedly has asked the Swiss National Bank for a “public show of support” as its shaky balance sheet — crippled by withdrawals from skittish customers in recent months — has sparked speculation that a government rescue is coming.
Read more here: https://nypost.com/2023/03/15/credit-suisse-tanks-after-top-shareholder-rules-out-investments/
