Dow Tumbles As Credit Suisse Concerns Mount

  • The Dow sank nearly 500 points Wednesday as concerns in the financial sector continued to swirl.
  • Shares of Credit Suisse tumbled more than 20%, stoking bank failure contagion fears.
  • A gauge of wholesale inflation for February unexpectedly dropped.

US stocks tumbled Wednesday, as the banking sector saw renewed turmoil — but this time focused on Europe.

US-listed shares of Credit Suisse plunged more than 20%, as Saudi backers ruled out further investment in the embattled lender. 

Since regulators shut down Silicon Valley Bank on Friday, investors have been concerned about another 2008-style financial crisis. On Tuesday, Moody’s cut its outlook for the entire US banking system

Meanwhile, the Labor Department reported wholesale prices posted a monthly decline of 0.1% in February, versus expectations for a 0.3% increase. 

Here’s where US indexes stood as the market opened at 9:30 a.m. on Wednesday: 

Here’s what else is going on: 

In commodities, bonds, and crypto: 

Source link

We will be happy to hear your thoughts

Leave a reply
Enable registration in settings - general
Shopping cart