NEW YORK — Stocks are back to falling on Wall Street Wednesday as worries worsen about the strength of banks on both sides of the Atlantic.
Credit Suisse has been fighting troubles for years, including losses it took from the 2021 collapse of investment firm Archegos Capital. Its shares in Switzerland sank more than 22% following reports that its top shareholder won’t pump more money into its investment.
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US stock fall as bank worries spread to Europe; Dow down 500Stocks are tumbling on Wall Street Wednesday as worries about the strength of banks worsen on both sides of the Atlantic Ocean. The S&P 500 was 1.4% lower in early trading, while markets in Europe slumped even further as shares of Switzerland’s Credit Suisse tumbled to a record low. Another fiasco caused by deregulation under the Trump administration. Meanwhile in the UK, PM Sunak lifted a cap on bankers ' bonuses. Time for Swiss and European governments to step in to shore the banks up and go after the CEOs who recklessly use other people's money in speculative projects to make money for themselves and their clients.
Source: AP - 🏆 728. / 51 Read more »
US stock fall as bank worries spread to Europe; Dow down 500Stocks are tumbling on Wall Street Wednesday as worries about the strength of banks worsen on both sides of the Atlantic Ocean.
Source: wsfa12news - 🏆 338. / 59 Read more »
Dow falls for fifth straight session as S&P 500 erases early gains; Nasdaq ends higherU.S. stocks finished mostly lower on Monday as the main indexes pared early gains while falling bank stocks continued to weigh on the market. The Dow Jones Industrial Average fell by 90.50 points, or 0.3%, to 31,819.14.
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Stock Market Today: Dow Futures Rise Ahead of CPI Inflation ReportStock futures edged higher and Treasury yields stabilized as traders awaited inflation data. Follow the latest markets updates.
Source: WSJ - 🏆 98. / 63 Read more »
Stock Market Today: Dow Futures Drop 600 Points, Credit Suisse Stock Price Down 25%The Dow dropped more than 500 points as banking fears increased and Credit Suisse shares tumbled. Treasury yields fell sharply. Probably good for inflation. “Edna! Get my broker on the line! We’re putting everything in Gold! We’re circling the drain! And bring the Maker’s Mark with you!”
Source: WSJ - 🏆 98. / 63 Read more »