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Credit Suisse Shares Drop 24%

Credit Suisse Group AG shares price registered a drop of 24% on Wednesday as the global bank crisis stretches. This comes after Saudi National Bank, Credit Suisse’s biggest investor reportedly said that it is unable to provide any further financial assistance to the struggling bank.

Data depicts that Credit Suisse shares went on to hit another all-time low for the second consecutive day. Reuters reported that SNB chairman Ammar Al Khudairy stated that they cannot help Credit Suisse because of the regulatory issue. The Saudi Bank holds around 9.88% of stakes in the troubled bank.

Experts have suggested that the dominos is starting to fall apart as the bank stocks declined by an average of 10% in a day.

(By Ashish Kumar)

Credit Suisse Banking Crisis
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