Hundreds of miles away from U.S. shores early Wednesday, a headline started working its means throughout Europe, then Wall Road, sparking recent panic because it dawned on traders they could be dealing with one more banking disaster.
In Zurich, shares of Credit score Suisse CS CH:CSGN tumbled greater than 20% at one level to a brand new document below €2 after the chairman of the Swiss lender’s prime shareholder, the Saudi Nationwide Financial institution, stated they received’t make investments any extra within the financial institution.
His…
