Credit Suisse, is in desperate need of support according to the Financial Times. Early on Wednesday the bank’s stock slid about 30 percent.
According to the Financial Times;
“Credit Suisse has appealed to the Swiss National Bank for a public show of support after its shares cratered as much as 30 per cent, sparking a broader sell-off in European and US bank stocks.
The request for a reassuring statement about Credit Suisse’s financial health came after its shares sank as low as SFr1.56, having earlier been halted amid a heavy sell-off, according to three people with knowledge of the talks.”
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