Credit Suisse in Crisis: Shares Plummet as Regulators Intervene.
TL;DR Summary
Credit Suisse will borrow up to $53.7 billion from Switzerland's central bank to support its business amid market contagion from the collapse of Silicon Valley Bank. Asian equities sold off, with Hong Kong's Hang Seng Index and Japan's bank-heavy Topix down 1.55 and 1.29 percent, respectively. Investors flocked to safe-haven assets such as gold and government bonds. Treasury Secretary Janet L. Yellen is set to testify on Capitol Hill on Thursday, and the Bank of England is monitoring the situation for any signs of a deepening crisis.
Topics:business#asian-equities#credit-suisse#finance#global-financial-system#market-contagion#safe-haven-assets
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- The Panic Spreads to Credit Suisse - WSJ The Wall Street Journal
- Opinion | Regulators must stop Credit Suisse from spiraling out of control The Washington Post
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