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Stock Market PLUNGES after Credit Suisse and Silicon Valley Bank | Ep. 168
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In this episode of The Bald Brad Show, the nation’s largest banks got walloped Wednesday — showing they weren’t immune to the crisis that has hammered regional lenders — after Credit Suisse reignited fears of a contagion in global banking.
Shares of JPMorgan Chase and Citigroup slid more than 4%, while Wells Fargo and Goldman Sachs fell more than 3% and Bank of America sank 0.9%.
US banks got slammed as Zurich-based Credit Suisse plunged 24% after its biggest shareholder, Saudi National Bank, said it wouldn’t pour more money into the troubled institution.
Market experts are increasingly fearful that Credit Suisse will require a bailout due to a rapid loss of confidence in its stability — potentially accelerating a chain reaction that began with Silicon Valley Bank’s implosion and could upend other struggling firms.
#stockmarket #news #politics
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