Concerns about Credit Suisse weigh on Wall Street – US banks lose significantly in value

new York Problems at major Swiss bank Credit Suisse (CS) have weighed on Wall Street again after Tuesday’s breather. The Dow Jones index of standard values ​​closed 0.9 percent lower on Wednesday at 31,874 points. The tech-heavy Nasdaq, on the other hand, advanced a moderate 0.1 percent to 11,434 points. The broad S&P 500 lost 0.7 percent to 3891 points.

The announcement that the new CS major shareholder Saudi National Bank cannot inject fresh funds for regulatory reasons has apparently revived fears of the consequences of the collapse of California’s Silicon Valley Bank (SVB). At times, the shares fell 31 percent to an all-time low of 1.55 francs and ended trading in Zurich 24 percent lower at 1.69 francs. This dragged global equity markets down with it.